Third try for Patriotic cnc3.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnc3.co.tt Daily Mail and Mail on Sunday newspapers.
GORTT grants Patriotic a further 15 days to secure financing for the Refinery
20th January, 2021, Port-of-Spain: The Corporation Sole wishes to inform the public of the following Cabinet decision with respect to the acquisition of the Petrotrin Refinery.
By letter dated September 25th, 2019, Patriotic Energies & Technologies Co. Ltd. (Patriotic) was informed that it was the preferred bidder for certain assets of Guaracara Refining Company Limited and Paria Fuel Trading Company Limited. The first item in the list of deliverables referred to in that letter, was “confirmation of its ability to finance the purchase and operation of the Refinery”.
A letter from Patriotic to Corporation Sole dated January 18, 2021, stated, inter alia, that “In our conversations with Credit Suisse, they have expressed great enthusiasm and confidence of their capacity to successfully finance the acquisition price of US$500 Million for Patriotic.”