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Future at stake

Geralyn Edward

Future at stake

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THE FUTURE of Arawak Cement Plant in St Lucy hangs in the balance.

That was the cryptic message from Wilfred Espinet, chairman of Trinidad Cement Limited (TCL), the parent company of Arawak, which is facing deep financial problems and is in the process of undertaking a major restructuring of its debt obligations to creditors and hundreds of employees in Trinidad and Tobago.

TCL shareholders, some of whom are Barbadians, have been summoned to a special general meeting in Trinidad to approve the restructuring plan that Espinet said requires about US$50 million in order to put the group on a sustainable path.

In an interview from Port-of-Spain with the WEEKEND NATION, Espinet said the St Lucy plant which TCL acquired from the Barbados Government had been losing money.

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Please read the full story in today’s Weekend Nation, or in the eNATION edition.