Claims that the Point Lisas Industrial Estate is under severe threat have been deemed inaccurate by Energy Minister Franklin Khan.
Speaking during the post-cabinet media briefing, Mr Khan acknowledged several challenges in the petrochemical industry, including reduced commodity prices.
However, he said three major companies at the estate have committed to long-term operations in T&T.
Mr Khan said an ammonia plant idled by Nutrien only accounts for 15-16% of their production while MHTL yesterday agreed to keep its M5000 plant operational for the rest of the year while negotiations on a long-term contract continue.
The Minister noted that the MHTL plant is the world’s largest methanol plant and is the most efficient at the estate.