Construction, Engineering and Transportation
T
he construction industry in Trinidad and Tobago has gone through boom and bust cycles over the last few decades, and has survived and prospered. The current era is no different and despite a downturn in the economy, there are opportunities for foreign and locals who are already involved in the sector, as well as for those who wish to invest therein. Mikey Joseph, President of the Trinidad and Tobago Contractors’ Association (TTCA) told Who’s Who that the construction industry can be a motor to help diversify the country’s economy once it regains momentum. “One of the best ways to move forward is to look for new markets so that the construction sector can
The construction industry in Trinidad and Tobago accounted for an estimated
6.5%
of GDP in 2015
15.6%
and of the labour force.
Urban Development Company of Trinidad and Tobago (UDECOTT) www.udecott.com National Infrastructure Development Company (NIDCO) www.nidco.co.tt Housing Development Corporation (HDC) www.hdc.gov.tt Trinidad and Tobago Contractors Association (TTCA) www.ttca.com
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become part of the diversification plan of the government. That is why we need talks with the government so we can inform them of how they can assist us in getting into new markets.” He said there are local contractors who are doing an excellent job operating in CARICOM countries. “We need to break out of that and go even further. There is Africa, Central and South America that may represent opportunities. But there are trade conditions that exist and there must be bilateral arrangements so that local contractors can be welcomed in foreign markets. The energy industry is already doing this successfully. We see the construction sector being able to do it too,” he said. Trinidad Cement Ltd is one company in the local construction and manufacturing sector which has recently had a new window of opportunity opened in the Caribbean market. In April, the Jamaica government gave Caribbean Cement Company
(Carib Cement) the green light to import cement from Trinidad and Tobago in a bid to ease a shortage of the commodity there.
Immediate Outlook Joseph does not see any major increase in activity in the construction industry for the rest of the year. “The conditions are not showing signs that the stagnated state is going to improve by leaps and bounds. There is going to be some increased activity but not much.” The TTCA’s members include small, medium and large companies and make up a spectrum of general contractors, manufacturers and construction suppliers. Joseph said there are about 150 general members, with 96 being financial members in the TTCA. “Contractors are born every year. There are about 3,000 registered contractors in the country. However, many are dormant.” He believes that so far 2017 is not much different from 2016. “The Housing Development Corporation (HDC) may have tried to get small projects going and they are doing that, but in terms of work for the entire industry, most people are still operating at about 30% deficiency. Because of this,