The iron and steel plant that was once owned by in­ter­na­tion­al steel gi­ant Arcelor­Mit­tal at the Point Lisas In­dus­tri­al Es­tate in Cou­va is still not up and run­ning de­spite hav­ing new own­ers.

On June 7, 2023, TT Iron Steel Com­pa­ny an­nounced it had signed a sale and pur­chase agree­ment with the liq­uida­tor of Arcelor­Mit­tal Point Lisas Ltd, Christo­pher Kelshall, to ac­quire the iron and steel plant on the Point Lisas In­dus­tri­al Es­tate.

The news re­lease then stat­ed that ini­tial re­fur­bish­ment and restart of the plant was ex­pect­ed to cost US$150-200 mil­lion (TT$1-1.4 bil­lion) over the next 24 months with fur­ther in­vest­ment re­quired there­after.