(Trinidad Guardian) The Minister of Energy and Energy Industries on Friday described Indian industrialist Naveen Jindal, who has expressed interest in the oil refinery at Pointe-a-Pierre, as a “very successful businessman” even though the billionaire is currently before an Indian court on corruption allegations.
Stuart Young added that those charges were from “a very long time ago.”
On Monday, Prime Minister Dr Keith Rowley met with Jindal, the chairman of Jindal Steel and Power Ltd, at the Diplomatic Centre in St Ann’s.
According to the Office of the Prime Minister, “Mr Jindal is interested in the potential of the Petrotrin refinery,” and that that interest formed part of discussions with the Prime Minister.
A 2013 Forbes report soon surfaced stating that Jindal was allegedly involved in a scandal called “Coalgate” leading to India’s federal police filing a case against Jindal Steel and Power Ltd over coal mining rights.
The Prime Minister has already said he was unaware of those charges.
Following the signing of exploration and production licences at the Ministry of Energy’s International Waterfront Centre headquarters on Wrightson Road yesterday, Young said: “I would imagine that will play out as it should play out. From what I saw those charges are from a very long time ago, but I am in no position to make any further comment on that.”
However Young added, “From what I have seen as well, he is a successful businessman in India, one of the top businessmen, especially in the steel industry,” he said.
Anticipating pushback to Jindal from the opposition United National Congress, Young posited that their objections would be hypocritical.
Young said, “What I find ironic is some of the very people I sit across the aisle from in Parliament are on bail and subject to criminal investigations, so it is quite ironic to hear some of those comments. We have one who is out on $1 million bail. He is always one who likes to comment on energy matters. And then there are some others who they themselves know there are criminal investigations ongoing.”
Jindal was also brought up by the Joint Trade Union Movement (JTUM) in his address to workers at the Charlie King Junction in La Brea on Labour Day. JTUM president general Ancel Roget told union members that the bidding process, which the OWTU was a part of, has been closed.
“But guess what, he is entertaining in the official residence, Indian businessman for the same refinery. I want to say this afternoon the OWTU will not stand idly by and allow anybody to walk in here and take over the refinery. So Indian businessman or not, whoever you may be we must be a part of going forward in the operation of that refinery,” Roget warned.
However, Minister Young said while that may be Roget’s position, it is certainly not the government’s.
“We will continue to push ahead and to pursue what needs to be pursued on behalf of the people of Trinidad and Tobago,” Young said.
When asked for an update on the sale of the refinery, the minister responded, “The progress is very good. I can say at this stage there has been a lot of interest, and that interest is currently being analysed. There have been a number of proposals and I have been told by the experts that those proposals are very favourable.”
The minister added, “But we have been here before and there are a number of factors that have to be present for it to be a success. So I am waiting. At this stage, we are not involved at the government level as it is being handled, as it always is, by TPHL (Trinidad Petroleum Holdings Ltd) and their advisors. When there is something there, they will forward to us at the government.”
At a Public Accounts and Enterprises Committee (PAEC) in April, TPHL was asked for an update on the process.
Paria general manager Mushtaq Mohammed responded, “Currently, we have had eight expressions of interest for the purchase/lease/restarting of the refinery.”
Mohammed said they also received unsolicited proposals.
“Our process is that we expect non-binding offers from 10th May and from then we will review those offers and understand the way forward,” Mohammed said then.
