There are eight expressions of interest for the purchase, lease, or restart of the Petrotrin Refinery.
This was shared by General Manager of Paria Fuel Trading Company Limited, Mushtaq Mohammed, during a Public Accounts (Enterprise) Committee Meeting on Wednesday.
The PAEC held an inquiry into the audited consolidated financial statements of Trinidad and Tobago Petroleum Holdings Limited (TPHL) for the year ended September 30th 2019.
The TPHL executives were asked to share the number of bids currently before them for consideration. Mr. Mohammed said they receive unsolicited proposals from time to time. He said the bidders comprised local and international companies.
The Executives of TPHL were also asked if the $6 million cost to preserve the assets of the refinery on an annual basis from revenue generated by the Guaracara refining company acts as an incentive to find a suitable bidder.
Chairman of TPHL and Heritage, Michael Quamina, said there is no greater driving force.