OWTU BLANKED AGAIN AS CORRUPTION-ACCUSED GETS REFINERY

THERE is growing furore by the nine local firms blanked for the lease of Petrotrin in favour of a foreigner on corruption charges.

Oilfields Workers’ Trade Union (OWTU), which represented the more than 5,000 workers who were sent home in November 2018, has had its subsidiary, Patriotic Energies and Technologies Co. Ltd., snubbed for a third time.

Altogether, the nine Trinidad and Tobago firms spent millions of dollars in their respective tenders, which included detailed technical reports and financing proposals.

Each has the support of an international partner and a reputable financial organisation.

The sidelined local companies are Integritus Group of Companies, Oando PLC, Nautical Partners, CRO Consortium, IEM Refinery Company Ltd., GN Fenceline, Columbus Refining Trinidad and Tobago, INCA Refining and Patriotic Energies.

“We are blindsided by what is taking place,” a representative of one of the companies said.

He revealed that preparation of the bid, including a technical analysis and a thorough fiscal plan by a United States-based financial firm, cost around TT $30 million.

An executive official of another contender accused the Government of “placing foreigners ahead of capable locals” and as “not serious about attracting investments by locals.”

He slammed: “This process is not transparent.

“They are handling a primary national asset as if it’s their private business.”

OWTU’s Patriotic submitted a comprehensive financing plan after its previous tender was described by Finance Minister Colm Imbert as having “no commitment on funding… no timeframe… no terms.”  

Prime Minister Dr. Keith Rowley has selected Jindal Steel and Power Ltd., a New Delhi-based manufacturer chaired by 54-year-old billionaire Naveen Jindal, a Member of the Indian Parliament.

Jindal was charged six years ago, along with others, for several alleged offences, including bribery, criminal conspiracy and breach of trust.

Rowley and Energy Minister Stuart Young handpicked Jindal to operate the mothballed Pointe-a-Pierre plant without any known formal tender or business plan.

The Prime Minister bypassed State-owned Trinidad Petroleum Holdings Ltd. and Paria Fuel Trading Company Ltd., which were handling the expressions of interest by the nine bidders.

The T&T High Commission in New Delhi was also shut out of the process.

Rowley was referred to Jindal earlier this year by prominent T&T nationals who are familiar with the Indian business and social landscape.

The Prime Minister and Young are playing down Jindal’s corruption issues.

The industrialist has a history of involvement in the steel industry and only recently developed an investment plan for renewable energy projects.

His company has not explained how the age-old inactive Petrotrin operations fit into expansion plans and whether most employees will be sourced from T&T.

Jindal’s takeover of the plant is a complete about-turn for T&T’s petrochemical industry, which was nationalised 40 years ago following a relentless campaign by OWTU, then led by hardliner George Weekes.

Weekes had crusaded for years against the then-PNM Government for the commanding heights of the economy to be owned by nationals.

Under pressure, multinational Texaco sold its assets in 1985 to a new State enterprise.

The Jindal takeover would see profits repatriated to a foreign businessman-politician on graft charges and no historic ties to T&T.

The local bidders have a long and varied history in industrial activity, including manufacturing and services, and had plans to recruit relevant professionals.

Their proposals included export plans.

They undertook due diligence examinations of the refinery during their respective evaluation processes.

It is expected that Rowley will make a formal announcement of the Jindal deal ahead of the general election, which is due within the next few months.

He is likely to boast of the provision of jobs, revival of the oil servicing sector and boost to business in fenceline communities.

Jindal was recently elected for the second time as a Member of India’s Lok Sabha (Parliament) on a ticket of Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP).

OWTU’s leader Ancel Roget has launched a bitter campaign against the PNM, calling for the ruling party to be voted out at the forthcoming election.