The government has signed three memoranda of understanding with United States companies to advance major investment projects in Trinidad and Tobago.
The agreements include a framework with Ernst & Young LLP for the development of a 300-megawatt data centre, a proposed artificial intelligence infrastructure and data centre project with Hummingbird AI Holdings, and an agreement with Pinnacle Steel and Vanadium Corporation to explore the refurbishment, recommissioning and operation of the iron and steel plant at Point Lisas.
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Prime Minister Kamla Persad Bissessar SC continues to deliver a stronger economy, more opportunity and growth for Trinidad and Tobago as Government establishes frameworks for cooperation across large-scale data-centre development, artificial-intelligence infrastructure, and the recommissioning of the iron and steel plant at Point Lisas for strategic metals production
One day after achieving the largest level of oversubscription by Trinidad and Tobago since the issuance of the country’s first benchmark-size bond in 2013, reflecting investor demand and the market’s confidence in Trinidad and Tobago’s economy led by Prime Minister Hon. Kamla Persad Bissessar.
One month after Moody’s raised Trinidad and Tobago’s rating outlook from “Negative” to “Stable”, while affirming the country’s Ba2 rating.
Two months after Government of Trinidad and Tobago signed an agreement with the World Bank Group to establish a permanent office in Port of Spain, formalising a relationship that will expand access to financing, technical expertise and private-sector investment.
Prime Minister Hon. Kamla Persad Bissessar has delivered again.
Yesterday Under the leadership of the Honourable Prime Minister Kamla Persad-Bissessar, the Government of the Republic of Trinidad and Tobago executed three Memoranda of Understanding (MOUs) with leading United States organisations, establishing frameworks for cooperation across large-scale data-centre development, artificial-intelligence infrastructure, and the recommissioning of the iron and steel plant at Point Lisas for strategic metals production.
MEMORANDUM I · DATA – CENTRE DEVELOPMENT – Ernst & Young LLP
The Government has entered into an MOU with Ernst & Young LLP to establish a framework for collaboration on the development of large-scale data centres and supporting infrastructure, leveraging EY’s Energy to Intelligence (E2I) platform. Under the framework, EY intends to partner with third parties in the development of a 300 MW data centre
MEMORANDUM II · AI INFRASTRUCTURE – Hummingbird AI Holdings LLC
A second MOU with Hummingbird AI Holdings LLC establishes a framework for preliminary cooperation, due diligence and coordination in relation to a proposed 150 MW artificial intelligence infrastructure and data-centre facility, with potential longer-term expansion to 500 MW. Initial commercial operation is targeted for the first quarter of 2028, subject to the outcome of due diligence and the parties advancing the project.
MEMORANDUM III · STRATEGIC METALS & STEEL – Pinnacle Steel and Vanadium Corporation
The third MOU, with Pinnacle Steel and Vanadium Corporation — which recently completed the acquisition of the iron and steel plant at Point Lisas — establishes a framework for further discussions and due diligence regarding the refurbishment, recommissioning and operation of the plant
Taken together, and subject to the projects advancing beyond their current framework and duediligence stages, these initiatives represent combined potential investment exceeding US$5 billion over the coming years and are expected to generate in excess of 5,000 new jobs, both skilled and semi-skilled, while advancing Trinidad and Tobago’s transition from the energy molecule toward modern, high-value exports.
