First shipment of PetroCaribe fuel to arrive next month

The first shipment of fuel under the Petro Caribe agreement should arrive in St Vincent and the Grenadines before the end of August, 2022.
Prime Minister Dr Ralph Gonsalves said this shipment will be delivered to VINLEC’s facility at Lowmans Bay which has the “installed capacity for almost 50 per cent of the electricity which is produced and what is consumed”.

Gonsalves said that the fuel under the Petro Caribe arrangement is acquired at “35 per cent discount off the top.”

Other areas under agreement with the Government of Venezuela include shipments of Urea fertilizer, Asphalt and the 150 prefabricated houses for families affected by the eruption of La Soufriere.

Speaking on NBC Radio earlier this week, the Prime Minister said during his recent trip to Venezuela, he was able to meet with the relevant authorities concerning the $9 million loan from the ALBA Bank. That money will go towards the redevelopment of Little Tokyo and to augment the Fishing Fleet Programme. (API)