The first shipment of fuel under the Petro Caribe agreement should arrive in St Vincent and the Grenadines before the end of August 2022.
According to a media release from API, Prime Minister Dr Ralph Gonsalves said this shipment will be delivered to VINLEC’s facility at Lowman’s Bay which has 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 fertiliser, asphalt and the 150 prefabricated houses for families affected by the eruption of La Soufriere.
The prime minister who spoke earlier today on NBC radio said during his recent trip to Venezuela, he was able to meet with the relevant authorities concerning the 9 million dollar loan from the ALBA bank. Those monies will go towards the redevelopment of Little Tokyo and to augment the Fishing Fleet programme.
