Patriotic Energies “no longer has exclusivity” in the acquisition of the Guaracara refinery following the submission of an evaluation committee to government.
This is according to Energy Minister Franklin Khan who today at a media conference revealed that there has been an inability by the union-led company to source purchase price financing.
Also at the conference, Finance Minister Colm Imbert said the Royal Bank of Canada, one of Patriotic’s suggested sources of funds, had not made any guarantees.
Moving forward, Minister Khan says government will return to their search for viable offers for the facility.
The OWTU, owners of Patriotic Energies, will host a media conference this afternoon to respond to the announcement.