THREE bidders for Petrotrin are outraged at plans to offer the operations to a giant corporation from India.
The bidders include a company owned by the family of a longstanding PNM-friendly industrialist.
Another applicant is Patriotic Energies and Technologies Co. Ltd., a subsidiary of Oilfields Workers’ Trade Union (OWTU).
Heritage Petroleum Co. Ltd. has placed a May 10 deadline for local tenders.
But Prime Minister Dr. Keith Rowley is due to travel to India, where he is expected to discuss the sale or lease of Petrotrin to Reliance Industries Ltd., the Mumbai-based conglomerate.
Reliance, which is into petrochemicals, telecommunications, retail, media, textiles and entertainment, is chaired and run by mogul Mukesh Ambani.
Ambani’s current net worth is US $113.6 billion.
Ambani is also interested in building and owning a sports stadium in Trinidad and Tobago, and the Rowley Government has identified the long-abandoned Pan Trinbago headquarters in Trincity.
“The Rowley Government is seriously courting Ambani,” a knowledgeable source said.
Ambani has reportedly proposed that Petrotrin utilise green hydrogen, a new technology renewable source of energy.
Reliance has been promoting so-called “clean and green” energy in its recent projects, which include a partnership with the British multinational, BP.
Ambani has said that “a comprehensive strategy” has been put in place “to ensure all our investments and assets … become more profitable even as fossil fuel demands wane.”
Reliance’s plans are to integrate the Pointe-a-Pierre plant with hydrocarbon operations in Guyana and Suriname, sources explained.
The conglomerate has extensive involvement in refining and chemical manufacturing in several Indian cities, including Gujarat, and other countries, such as Malaysia.
The three local bidders have prepared wide-ranging submissions, with details on funding, marketing, employment and various technical matters.
The bid documents are bulky and address all aspects of the resumption and running of the mothballed plants.
The projection is for the Petrotrin to be fully operationalised within nine months of start-up and financially viable within three years.
Senior officials of the local companies are infuriated over Reliance’s interest in Petrotrin, insisting that the operations should remain in the hands of locals.
They recall the campaign in the 1970s for nationalisation of the energy sector.
They are expected to make that pitch during forthcoming discussions with the executive of Heritage.
The bidder with historic links to the ruling PNM is also expected to lean on certain company directors who are also serving in the State sector.
But a representative of Patriotic noted: “Whoever is given control of the plant will have to engage OWTU, since we represent the workers.”
Observers say that Rowley is aiming to make an announcement on Petrotrin ahead of the forthcoming general election, with the aim of securing a political advantage.
The shutdown of the refinery and other plants in November 2018 displaced some 7,000 company workers, along with employees in the oil servicing sector.
In addition, fenceline communities like Pointe-a-Pierre, Marabella, Claxton Bay, Vistabella, and San Fernando saw a major dip in retail sales, which also led to the loss of jobs.
