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Yeah dat himCountry_Bookie wrote:Is this the same Unanan Persad who used to be in politics? I can't remember the exact story but I recall some big bachannal when Panday had kick him out of UNC. Could have been 15 -20 years ago.
The_Honourable wrote:Third attempt to sell ArcelorMittal assets
CHRISTOPHER Kelshall, the liquidator of the ArcelorMittal company on the Point Lisas Industrial Estate, is making a third attempt to sell the iron and steel-manufacturing assets, which were mothballed in March 2016.
T&T’s largest non-energy, manufacturing exporter, Luxemburg-based ArcelorMittal decided to close its operations at Point Lisas on March 11 2016, throwing its direct workforce of 644 into unemployment, causing the National Gas Company, WASA, PLIPDECO and T&TEC to forego hundreds of million in fees and tariffs and leading to almost US$800 million in estimated export earnings lost over three years, according to four Central Bank economists.
The iron and steel facility, which was acquired by current ArcelorMittal chairman and CEO, Lakshmi Mittal, in 1994 for US$70 million, cost T&T over US$1 billion in investment dollars to commission and operate between 1980 and 1985, according to former finance minister, Wendell Mottley, in his book Trinidad and Tobago Industrial Policy 1959 to 2008.
Six local and international companies responded to Kelshall’s third request for expressions of interest in the assets of the iron and steel facility, including the Luxemburg-based owner of the assets, ArcelorMittal, and Nu-Iron, the Point Lisas-based subsidiary of the US steel giant Nucor Corporation.
Neither Arcelor nor Nu-Iron eventually submitted bids, sources close to the process told Express Business.
The liquidator has received, and is considering, three bids, including one from Aeternus Steel Company, a local company incorporated in March 2019. A joint venture of Aeternus Steel and the Dubai-based Cassia Group, was named the preferred bidder in the 2019 sales process, which ended without any company being selected.
Asked to provide an update of the liquidation and pension processes, Kelshall on Friday said in an email: “I am in the process of evaluating bids received from several local and overseas bidders for the plant, to determine a preferred bidder. The process is at an advanced stage and delicate at this time. I expect a determination to be made within the next month.”
Questioned about the sale of the assets, Steel Workers Union president, Timothy Bailey said the union welcomed the possibility as its entire membership from the steel industry were deprived of their separation benefits.
“We have seen what has happened to the former workers and are supportive of any initiative that allows the opportunity for employment. We believe that considering our economic situation currently as a country. The need for stimulating the economy with new and sustainable investment where sustainable employment coupled with the possible availability of foreign exchange should be taken in consideration by the Government and liquidator. This should be the deal breaker when any decision is made on choosing a entity,” said Bailey
Given the price of electricity and issues over the availability of natural gas, the reopening is likely to be of ArcelorMittal’s two Direct Reduce Iron (DRI) plants only (See list of assets sidebar).
A Point Lisas source said a successful reopening of the DRI facility requires clarity on the supply of natural gas, a competitive electricity rate and the expeditious grant of the Foreign Investor’s Licence. The issue of the Foreign Investor’s Licence has been promoted to significance because of the perception that the Ministry of Finance took too long to consider the licence for the preferred bidder of the 2019 attempt.
Forex earnings
In a January 2020 working paper, entitled ‘Impact of the closure of a large foreign direct investment: The case of ArcelorMittal in T&T,’ four Central Bank economists estimated that the potential annual export earnings foregone by the domestic economy amounted to US$259.2 million over the three years 2016, 2017 and 2018.
The export earnings contribution of the DRI plant alone would have been US$146.3 million, according to the Central Bank economists, Ashley, Lauren Sonnylal, Kester Thompson and Reshma Mahabir.
The economists also projected that if ArcelorMittal remained in operation, non-energy export earnings would have increased, resulting in a smaller current account deficit of US$748.2 million in 2016 compared to US$979.5 million.
“The current account surplus would have further improved in 2017 and 2018 to US$1,495.2 million and US$2,260.5 million compared to US$1,236.1 million and US$1,190.7 million, respectively,” stated the Central Bank economists.
They counter-balanced the positive impact on T&T’s export earnings by noting that “improvements to the current account from higher export earnings may have been offset by the repayment of ArcelorMittal debt to external parties.”
Source: https://trinidadexpress.com/business/lo ... 7d7ba.html
THE TT Iron Steel Company Limited has signed a sales and purchase agreement to acquire the Arcelor Mittal Point Lisas iron and steel plant at the Point Lisas Industrial Estate in Couva.
The company announced its acquisition in a release, saying it will begin refurbishing the plant over the next 24 months at a cost of TT$ 1-1.4 billion (US$150-200 million).
“The plant is one of the Western Hemisphere’s largest steel mills pairing low carbon emission, natural gas based direct reduced iron technology with electric arc furnaces for steelmaking,” the release said.
Founder and Group CEO Gus Hiller said there was great potential
https://newsday.co.tt/2023/06/07/arcelo ... -steel-co/
pugboy wrote:i thought they tief out most of the plant for scrap
PNM will be running the plant, it's doomed to fail again.sMASH wrote:Lets hope this time they get this company right.
Country could use it.
Even if is bobol, get it going and let a next administration do the investigations.
Calls for probe into iron plant mishap – ENGINEER SUFFERS BURNS, DIES
https://newsday.co.tt/2024/01/23/calls-for-probe-into-iron-plant-mishap-engineer-suffers-burns-dies/
THERE must be no attempt to cover up the circumstances surrounding the death of electrical engineer Rossi Mansingh, both the Opposition and a major trade union are demanding.
Mansingh died on Monday night, four days after suffering electrical burns while working on the site of the former Arcelor Mittal steel plant in the Point Lisas Industrial Estate. He died at the San Fernando General Hospital.
Mansingh, who was said to be in his 30s, was the husband of Parvani Rooplal and son of Dave and Shirley Mansingh of Fyzabad. He was being treated at the intensive care unit (ICU) of the hospital up to the time of his death. His father confirmed Mansingh's death but said he was too distraught to be interviewed.
President of the Steel Workers Union (SWUTT) Timothy Bailey told Newsday his information was that Mansingh was put in a private vehicle and taken to hospital.
Bailey said he spoke to Christopher Kelshall, the appointed liquidator to oversee the winding up of Arcelor Mittal and its transition to the TT Iron and Steel Co, who confirmed that Mansingh had been retained after Arcelor Mittal ceased operations, to assist in refurbishing the plant.
“He told me an investigation is ongoing, but I am curious to know what activities were actually taking place on the plant,” Bailey said.
Both Pointe-a-Pierre MP David Lee, and Oilfield Workers Trade Union (OWTU) education and research officer Ozzi Warwick made separate calls for an in-depth investigation, when contacted for comment by Newsday on Tuesday.
They called for the investigation to be public, open and transparent – and if anyone or any entity is found culpable, then let the chips fall where they may, they said.
They also called for Government to get serious about implementing stringent safety measures at the workplace – especially in the energy sector – in accordance with the Occupational Safety and Health Act.
Sweep under the carpet as usualmaj. tom wrote:Calls for probe into iron plant mishap – ENGINEER SUFFERS BURNS, DIES
https://newsday.co.tt/2024/01/23/calls-for-probe-into-iron-plant-mishap-engineer-suffers-burns-dies/
THERE must be no attempt to cover up the circumstances surrounding the death of electrical engineer Rossi Mansingh, both the Opposition and a major trade union are demanding.
Mansingh died on Monday night, four days after suffering electrical burns while working on the site of the former Arcelor Mittal steel plant in the Point Lisas Industrial Estate. He died at the San Fernando General Hospital.
Mansingh, who was said to be in his 30s, was the husband of Parvani Rooplal and son of Dave and Shirley Mansingh of Fyzabad. He was being treated at the intensive care unit (ICU) of the hospital up to the time of his death. His father confirmed Mansingh's death but said he was too distraught to be interviewed.
President of the Steel Workers Union (SWUTT) Timothy Bailey told Newsday his information was that Mansingh was put in a private vehicle and taken to hospital.
Bailey said he spoke to Christopher Kelshall, the appointed liquidator to oversee the winding up of Arcelor Mittal and its transition to the TT Iron and Steel Co, who confirmed that Mansingh had been retained after Arcelor Mittal ceased operations, to assist in refurbishing the plant.
“He told me an investigation is ongoing, but I am curious to know what activities were actually taking place on the plant,” Bailey said.
Both Pointe-a-Pierre MP David Lee, and Oilfield Workers Trade Union (OWTU) education and research officer Ozzi Warwick made separate calls for an in-depth investigation, when contacted for comment by Newsday on Tuesday.
They called for the investigation to be public, open and transparent – and if anyone or any entity is found culpable, then let the chips fall where they may, they said.
They also called for Government to get serious about implementing stringent safety measures at the workplace – especially in the energy sector – in accordance with the Occupational Safety and Health Act.
As an electrical engineer, surely he would have known the risks involved and done EVERYTHING in his power to mitigate against such. He even has the power to refuse if he's concerned about his safety.nervewrecker wrote:Is like something out of final destination yes. The day before me and a guy talking how we does laugh now but he get burn up and live. We talking and laughing how funny it sounds now. Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Same evening I pass Rossi and his wife walking the two Huskies. Next evening he in the ICU. My mother freaking out because she knows HV does be part of my daily routine sometimes and it's not the first or last time I de-energize and normalise systems. It's a risk you have to understand and be trained to work around.
Rossi was a bright guy, we went same primary sch and high school. I don't know the circumstances but I'm already seeing talk of no ppe and working on the 12KV live. Something not adding up there.
Sent from my VOG-L29 using TriniTuner mobile app
wing wrote:As an electrical engineer, surely he would have known the risks involved and done EVERYTHING in his power to mitigate against such. He even has the power to refuse if he's concerned about his safety.nervewrecker wrote:Is like something out of final destination yes. The day before me and a guy talking how we does laugh now but he get burn up and live. We talking and laughing how funny it sounds now. Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Same evening I pass Rossi and his wife walking the two Huskies. Next evening he in the ICU. My mother freaking out because she knows HV does be part of my daily routine sometimes and it's not the first or last time I de-energize and normalise systems. It's a risk you have to understand and be trained to work around.
Rossi was a bright guy, we went same primary sch and high school. I don't know the circumstances but I'm already seeing talk of no ppe and working on the 12KV live. Something not adding up there.
Sent from my VOG-L29 using TriniTuner mobile app
nervewrecker wrote: Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
No it isnt.bluefete wrote:nervewrecker wrote: Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Nerve: is that like the circuit breakers in the panels at home?
wing wrote:My point is, in industry, everything has the potential to kill you. The company could have the best safety system or have paria level oversight. At some point, you have to remember that people are depending on you to return home and you are responsible for your own safety, even if it means refusing or being victimized for it. At the end of the day, you dead and the company will eventually resume its activities. PS, for him to be burned like that, seems like a case of arc blast. Once again, he's working on systems that were abandoned 7 years ago, you have to be very sure about your isolation and testing before working.
Correct, the moveable part in some weigh maybe about the same as a Tiida engine or probably more. That system blow out it's hot gas expanding, heat, electrical arc, sound, molten metal, solid metal and probably some other stuff.Supra GT-FOUR wrote:No it isnt.bluefete wrote:nervewrecker wrote: Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Nerve: is that like the circuit breakers in the panels at home?
It's a large unit which is levered mechanically (via screw mechanism) into connected/test/disconnected positions onto a distribution switchboard.
U ever wuk in industry and especially the steel industry?wing wrote:As an electrical engineer, surely he would have known the risks involved and done EVERYTHING in his power to mitigate against such. He even has the power to refuse if he's concerned about his safety.nervewrecker wrote:Is like something out of final destination yes. The day before me and a guy talking how we does laugh now but he get burn up and live. We talking and laughing how funny it sounds now. Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Same evening I pass Rossi and his wife walking the two Huskies. Next evening he in the ICU. My mother freaking out because she knows HV does be part of my daily routine sometimes and it's not the first or last time I de-energize and normalise systems. It's a risk you have to understand and be trained to work around.
Rossi was a bright guy, we went same primary sch and high school. I don't know the circumstances but I'm already seeing talk of no ppe and working on the 12KV live. Something not adding up there.
Sent from my VOG-L29 using TriniTuner mobile app
Actually yes, for 10 years you big hen.zoom rader wrote:U ever wuk in industry and especially the steel industry?wing wrote:As an electrical engineer, surely he would have known the risks involved and done EVERYTHING in his power to mitigate against such. He even has the power to refuse if he's concerned about his safety.nervewrecker wrote:Is like something out of final destination yes. The day before me and a guy talking how we does laugh now but he get burn up and live. We talking and laughing how funny it sounds now. Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Same evening I pass Rossi and his wife walking the two Huskies. Next evening he in the ICU. My mother freaking out because she knows HV does be part of my daily routine sometimes and it's not the first or last time I de-energize and normalise systems. It's a risk you have to understand and be trained to work around.
Rossi was a bright guy, we went same primary sch and high school. I don't know the circumstances but I'm already seeing talk of no ppe and working on the 12KV live. Something not adding up there.
Sent from my VOG-L29 using TriniTuner mobile app
Why u don't hush lil kant
wing wrote:Actually yes, for 10 years you big hen.zoom rader wrote:U ever wuk in industry and especially the steel industry?wing wrote:As an electrical engineer, surely he would have known the risks involved and done EVERYTHING in his power to mitigate against such. He even has the power to refuse if he's concerned about his safety.nervewrecker wrote:Is like something out of final destination yes. The day before me and a guy talking how we does laugh now but he get burn up and live. We talking and laughing how funny it sounds now. Same day I showing the guys to not take chance and always stand on the side when flipping a breaker. I always turn my face too and we MUST ALWAYS respect a live system.
Same evening I pass Rossi and his wife walking the two Huskies. Next evening he in the ICU. My mother freaking out because she knows HV does be part of my daily routine sometimes and it's not the first or last time I de-energize and normalise systems. It's a risk you have to understand and be trained to work around.
Rossi was a bright guy, we went same primary sch and high school. I don't know the circumstances but I'm already seeing talk of no ppe and working on the 12KV live. Something not adding up there.
Sent from my VOG-L29 using TriniTuner mobile app
Why u don't hush lil kant
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