Cuba Business

Sherritt discusses coal plant development in Havana Province

Posted January 08, 2005 by publisher in Cuba Business.

By Allison Murray | [url=][/url]

Canadian mining and energy company Sherritt International is in discussions with Cuba’s government regarding the possible development of a coal-fired thermoelectric project at Mariel in La Habana province, Sherritt investor relations and corporate affairs VP Deanna Horton told BNamericas.

“That was reported in Cuba. We haven’t made a final decision on that and we haven’t announced it, so I can’t comment,” she said, adding a decision will be made “in the near future.”

Cuba’s Granma Digital reported that Venezuelan companies are also considering the project.

Meanwhile, Sherritt’s 80MW expansion of its 33MW Boca de Jaruco thermoelectric plant in Cuba is “on track” and due for completion in November of this year, she said. Construction began in 3Q04 and investment is earmarked at Cdn$120mn (US$97.8mn).

Sherritt is financing, constructing and will operate the expansion.
The company is considering adding a 70MW second phase to the plant but that decision is subject to gas availability, “so we haven’t made an announcement on that yet,” she said.

Through the Energas joint venture, Sherritt and Cuba’s respective oil and electricity companies - Cuba Petroleo (Cupet) and Union Electrica (UNE) - each own 33% of Boca de Jaruco and the 173MW plant in Varadero.

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