Trinidad & Tobago selling 49% of its monopoly electricity utility
Friday, June 09 2017 @ 10:24 PM AST
Contributed by: AleemKhan
* NO COST TO NEW TOBAGO VESSEL TO SERVICE SEABRIDGE FROM TRINIDAD
* ILLEGALY IN TRINIDAD & TOBAGO: 183 persons from China; 326 from Colombia; 39 from Nigeria; 65 from Guyana; 1,415 from Venezuela; 217 from the Dominican Republic; and 20 from Jamaica https://www.youtube.com/watch?v=SdQSH...p;t=48m18s
* Trinidad and Tobago Government is trying to sell 40% of the electricity monopoly utility company TGU Generation Unlimited to a private investor; and an additional 9% as an IPO within this fiscal year ending September 2017. Trinidad and Tobago to retain 51% majority control of the company, Prime Minister Dr Keith Rowley said today in Parliament. https://www.youtube.com/watch?v=SdQSH...p;t=26m00s
"We are considering offers," Rowley said, denying that Government had not announced it was taking offers, saying since the budget was read it was announced that Government would be divesting the electricity monopoly.
Rowley said a valuation is being done and the prospective partner will have to pay 40% of that value.
"9% of the shareholding in that company would be made available to the public in an IPO," Rowley said, "and that has been made clear by the Minister of Finance before."
$3 BILLION MAINLY FROM TTNGL SALE
From September 14, 2016, to April 30, 2017, the National Gas Company (NGC) paid Government $3.3 billion in dividends, much of which were monies obtained from sale of TTNGL (Phoenix Park) shares, end went into recurrent expenditure. "We used it to close the deficit gap in the national budget," Rowley said. To April 30 https://www.youtube.com/watch?v=SdQSH...p;t=33m00s