The identity of the preferred bidder for the Guaracara Refinery will be revealed once a formal letter has been issued to them.
Acting Prime Minister Colm Imbert says negotiations are still ongoing and they are currently engaged in final due diligence with the bidder.
He says there is a process to be undertaken once the letter of award has been given.
In more energy news, the Acting Prime Minister also stated that the Niquan Energy Plant is currently undergoing a ‘testing phase’ before it can again be restarted.
In April 2021, the plant’s hydrocracker system failed during an attempted start-up, resulting in an explosion. Since then, nearby residents in Marabella have been calling on the company to meet with them before restarting the plant to allay their own safety concerns.
Mr. Imbert denied that the plant was restarted this week and added that Niquan was given approval by the Ministry of Energy in April 2022 for the re-introduction of natural gas into the facility.
He assured that there will be proper communication with the community prior to commencing the full startup of the energy plant.