History
15
STILL YOUNG AND DYNAMIC AFTER NEARLY 50 YEARS
The early days of PLIPDECO were challenging. Times were tough for the new corporation and business was hard to generate. The original vision of San Fernando’s South Chamber of Industry & Commerce almost failed before it got under way; but nearly 50 years later it has developed into an energetic corporation with a bright future. Until the late 1930s, cargo ships had anchored in the Gulf of Paria and offloaded their cargo into small barges. When the Port of Port of Spain was dredged to allow vessels to berth there, cargo destined for San Fernando had a much longer and more expensive journey from north to the south of the island. As a consequence, the San Fernando business community looked at developing a deepwater port its own and one closer to the southern town to reduce transport costs. The idea did not actually gather momentum until the mid 1950s.
After government-led feasibility studies in 1965, the Point Lisas Industrial Port Development Corporation Limited (PLIPDECO) was officially registered on 16 September 1966. The concept then was to develop a deepwater harbour for San Fernando, but later this evolved into plans for an industrial port that would become a magnet for industrial growth in the region.
EASY ACCESS Point Lisas, only 8 km north of San Fernando, was chosen for its easy access to open deep water and ample space for expansion, as well as for its proximity to the nation’s oil and gas reserves. Despite the commitment and resolve of everyone involved, the fledging business failed to take off as expected. By 1970 there were still no clients and no funds. Then the intervention of the Trinidad
and Tobago Government brought a reversal of fortunes through the injection of much needed capital and development approvals. The energy boom of the mid-1970s also gave the project greater momentum.