ENERGY multinational company Proman has underscored its commitment to invest US$1.1 billion in Trinidad and Tobago over the next decade.
This commitment was given to the Prime Minister and Energy Minister Stuart Young in Zurich Switzerland on Monday by Proman CEO David Cassidy .
Dr Rowley and Young left TT on September 2 to meet with executives of Proman, British Petroleum (BP) and Shell in Switzerland, the UK and the Netherlands respectively.
A statement issued by the Office of the Prime Minister (OPM) on Monday quoted Cassidy and his team as saying this investment over the next decade shows the continued importance of TT to Proman's global operations.
Proman, which is based in Wollerau in Switzerland, has methanol and fertiliser-production facilities in TT, the US and Oman. The company is currently expanding its operations into Mexico.
Proman's operations in TT include Proman TT and Methanol Holdings Trinidad Ltd at the Point Lisas Industrial Estate.
The OPM said the company's 1,100 employees in TT account for 67 per cent of its global employee headcount.
Part of Proman's US$1.1 billion investment will focus on "major plant maintenance turnarounds at Point Lisas."
The OPM said the investment will also "fund work on safety, reliability and greenhouse-gas-reduction initiatives."
In the meeting with Rowley and Young, Proman agreed to work with the Government to pursue other energy transition initiatives and opportunities.
The meeting also discussed the operations of Proman's upstream company DeNovo and its promotion of methanol as a maritime fuel and the reduction of shipping emissions.
The OPM said the meeting "explored opportunities for TT as one of the largest global methanol producers, which also boasts a safe harbour, to position itself as a major shipping refueling destination."
On Tuesday, Rowley and Young will visit Proman's operations in Gernany.
Finance Minister Colm Imbert will act as prime minister until Rowley returns home.
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