The Wisynco Group is reporting a slight delay in the commissioning of its US$2.7 million co-generating plant, which is expected to save the company US$1 million per year in electricity costs.
The plant, which will be powered by liquefied natural gas (LNG), should have come into commission by the end of this year, but this deadline will not be met given that the components for the plant have just arrived in the island, much later than scheduled. Speaking with the Caribbean Business Report at the end of Wisynco’s annual general meeting, ChairmanWilliam Mahfood expressed confidence that the plant will be up and running by the latest March next year.
He explained that the plant should have been commissioned this year but the delay was with the supply of the equipment.
“The equipment is now here…the equipment is being installed as we speak and we intend to start those engines by the latest February- March,” declared Mahfood.
CEO Andrew Mahfood told shareholders that the LNG plant is one of the exciting projects that the company is implementing, as part of its thrust to drive down expenses next year.
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