Daily Express
November 24, 2015 – trinidadexpress.com
The National Gas Company of Trinidad and Tobago Limited (NGC) has terminated its contract with Super Industrial Services Limited (SIS) for the construction of the $1 billion Beetham Water Recycling Plant. The decision was taken after SIS said it was unable to continue with the controversial project.
The following is the statement issued by the NGC on Tuesday –
The National Gas Company of Trinidad and Tobago Limited (NGC) and Super Industrial Services Limited (SIS) entered into a contract on March 10th, 2014 for the Design & Build of the Beetham Water Recycling Plant for the value of US$162,055,318.77. The agreed contractual date for completion was October 21, 2015. To date, SIS, the Contractor, has failed to complete the project and has indicated in writing that they “are unable to continue the works” in accordance with the contract.
NGC and its team have continuously exerted best efforts to ensure that the stipulated contractual terms are satisfied. After careful deliberation, NGC has exercised its right to terminate the contract with SIS. This decision was prompted by our fiduciary responsibility to safeguard the interests and assets of the Company.
NGC has simultaneously commenced the initiation of any and all appropriate steps consistent with the contract with SIS and afforded by law to protect its interests and the interests of the citizens of Trinidad and Tobago. NGC recognizes that other stakeholders will be affected by this decision and will consult with key stakeholders as may be appropriate.
Finally, NGC wishes to reassure the national community that this decision, and all subsequent steps, have been and will be initiated in good faith, consistent with the signed contract and the law to preserve the assets of NGC and by extension the national community.
Source: www.trinidadexpress.com/20151124/news/sis-billion-dollar-contract-terminated-by-ngc
FLASHBACK:
NGC pays $700 million to SIS
…for Beetham water recycling plant Only 45 % complete…
Published on March 29, 2015
Despite the project being only 45 per cent complete, National Gas Company (NGC) has already paid Super Industrial Services (SIS) close to $700 million (70 per cent of the cost) for the Design & Build and Operation & Maintenance of the Beetham Water Recycling Plant.
In March 2014, NGC awarded the billion-dollar contract to a consortium led by Super Industrial Services and its two sub-contractors, Foster Wheeler and Hyflux, for US$167 million (about TT$1 billion).
And informed sources at NGC explained to the Express that although the contract was awarded for US$167 million, for now, NGC is working internally with a budget that is US$63 million less, of US$104 million.
At the time of the bidding, SIS’s bid of US$167,755,329 was US$72,530,686 more than competitor Atlatec’s bid of US$95,224,643 and more than NGC’s own estimate of US$149,999,000.
Full Article : trinidadexpress.com
$800m contract for top Govt financier
Daily Express
Published on June 8, 2013
A major financier of the People’s Partnership administration is tipped to secure an $800 million construction contract from the National Gas Company (NGC).
The Sunday Express understands that the Krishna Lalla-owned Super Industrial Services (SIS), a financier of the UNC-led People’s Partnership Government, is earmarked to secure the contract for the design-build services for the NGC’s new corporate campus in Brechin Castle, Couva.
The cost of the project has also changed by nearly $100 million.
According to the 2013 State Enterprises Investment Programme (SEIP), the corporate campus was initially expected to carry an estimated cost of $710 million.
Full Article : trinidadexpress.com
At least it should be mandated that a pro rated refund be remitted to the NGC from SIS stemming from the advance given, plus damages for breach of contract.
This cost over run by one PNM financier. But you will not see a headline naming him as a PNM financier, only UNC have financiers.
Cost over run by the mighty PNM Rahael clan
—Trinity Housing owned by the Rahael group constructed 138 units at Orchard Gardens, incurring cost overruns of $50 million.
—Corinth Hills was done by the same company, incurring cost overruns of $128 million. —-Trinity Housing projects with cost overruns including East Grove in Curepe ($64 million),
——Bon Air (an original $13 million contract with $19 million in cost overruns) and ——Greenvale Park ($156 million in cost overruns.)
—-Couva Junior Secondary ($172 millions cost over run)
—-, Barataria Junior Secondary ($149 million cost over run),
—- Pleasantville Junior Secondary ($150 million cost over run) He said Osha laws virtually closed down the contract for the Pleasantville project due to safety concerns.
Too little bit…should be £1 billion plus each….
SIS founder Krishna Lalla weary of ‘constant attacks’
By Asha Javeed
November 28, 2015
He was fondly known as “Mamoo” (the Hindi word for “big brother”) by some members of the former People’s Partnership government.
He was the man, it was said, who had the ear of former prime minister Kamla Persad-Bissessar, now Opposition Leader.
Former chairman of the United National Congress (UNC) and Chaguanas West MP Jack Warner had alleged he was a financier of the UNC.
He’s never been photographed, clearly opting to keep out of the spotlight.
Krishna Lalla, the man who founded Couva-based conglomerate Super Industrial Services (SIS), hasn’t been around since the Persad-Bissessar government lost the September 7 general election.
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SIS collects $780m for 40 per cent of work
NGC seeks to recover excess
The National Gas Company (NGC) is moving to recover from Super Industrial Services Ltd (SIS) the costs of completing the works on the Beetham Wastewater Project and any other losses and damages incurred as a result of SIS’s alleged breaches of a billion-dollar contract for the project, Minister in the Ministry of the Attorney General Stuart Young says.
In a statement to Parliament yesterday, Young revealed that NGC, whose mandate was not the provision of water, entered into the contract for over $1 billion and had paid out over $780 million to SIS to date—about 75 per cent of the full cost—when only approximately 40-45 per cent of the project work was completed.
Full Article : guardian.co.tt