La Brea residents surprised at PM’s Labidco sale talk

Staff at the La Brea In­dus­tri­al De­vel­op­ment Com­pa­ny (Labid­co) were blind­sided by the an­nounce­ment by Prime Min­is­ter Kam­la Per­sad-Bisses­sar in To­ba­go on Tues­day that the com­pa­ny was be­ing con­sid­ered for di­vest­ment along­side Na­tion­al Quar­ries, Hilton Trinidad, the Mag­dale­na Grand Beach and Golf Re­sort.

Labid­co man­ages the La Brea In­dus­tri­al Es­tate and is a sub­sidiary of the Na­tion­al Gas Com­pa­ny. NGC has a 91.55 per cent share­hold­ing in Labid­co, while Petrotrin holds the re­main­ing 8.45 per cent. Trinidad Off­shore Fab­ri­ca­tors Un­lim­it­ed (TOF­CO) is one of Labid­co’s main ten­ants.

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Last month, the Shell Man­a­tee Jack­et was shipped from TOF­CO’s off­shore plat­form fab­ri­ca­tion yard, which is lo­cat­ed in the in­dus­tri­al es­tate.