The chief executive officer of the US-based Pinnacle Steel and Vanadium Company, Edwin Bennet, says the refurbishment of the former ArcelorMittal steel facility, is aimed at transforming Trinidad and Tobago into a major producer of vanadium.
‘Our vision for this facility is that it will be one of the most technologically advanced, lowest cost, and environmentally friendly steel mills in the world, putting Trinidad on the map not only as a steel producer, as a critical minerals producer, but as on the forefront, the leading edge of steel production technology,’ he told the ribbon cutting ceremony that was also attended by United States Deputy Secretary of State, Christopher Landau.
He said that the initial investment in the Ibis Steel Company at Point Lisas in central Trinidad, on the site of the former ArcelorMittal plant, which closed in 2016 is planned at US$250 million.