The history of the Chinese in T&T dates back hundreds of years. Prime Minister Kamla Persad-Bissessar acknowledged this at the opening of the Third China-Caribbean Economic and Trade Co-operation Forum on Monday at the Hyatt Regency Trinidad Hotel, Port-of-Spain. "In 1806, Chinese labour was introduced to T&T to bolster an economy about to be plagued labour shortages in the aftermath of emancipation. In 2006, T&T celebrated the 200th anniversary of the arrival of Chinese in Trinidad," she said. Given this history, it is no surprise that China, now an economic and geo-politically influential state, has invested heavily in T&T in the last five years. This is a brief outline of some of the areas that China is currently investing in T&T.
Energy
As reported in the media, last month, China announced a deal to acquire a ten per cent stake in Atlantic-formerly Atlantic LNG-plant at Pt Lisas. The China Investment Corporation (CIC) will acquire French firm GDF Suez SA's stake in the plant for a reported $5.5 billion as part of a larger deal to allow GDF Suez SA access to the Chinese and Asia Pacific markets. In 2008, the Chinese state oil company, Sinopec, set up a local subsidiary called Soogl Antilles (Trinidad) Ltd in order to focus on core business activities, such as exploration and development within the oil and gas industry. Soogl acquired 45.4 per cent interest in the offshore East Brighton Block, a 107-square kilometre area off the southwest coast of Trinidad in the Gulf of Paria. Although state-owned Petrotrin owns 30 per cent and Primera East Brighton (a CL Financial subsidiary) owns the remaining 24.5 per cent of the block, SOOGL is the designated operator in an area which is believed to be hydrocarbon-rich.
A Chinese joint venture also holds equity in the Greater Angostura field, Block 2C, 40 kilometres off the northeastern coast. Chaoyang Petroleum (Trinidad) Block 2C Ltd is owned 50/50 by the Chinese National Offshore Oil Corporation (CNOOC) and Sinopec. It holds a 25 per cent stake in the field which has a reported design capacity of 280 million cubic feet of gas a day. The share was acquired by Chaoyang from Canadian firm Talisman in May 2009 for $1.6 billion. Also in May 2009, Chaoyang Petroleum (Trinidad) Block 3A Ltd bought a 25.5 per cent interest in the production sharing contract for Block 3A from Talisman for $5 million. As at December 31, 2009, block 3A was in the exploration stage.
Construction
Additionally, under the terms of a government to government loan arrangement, T&T, under the previous People's National Movement administration, was loaned billions to fund the new Prime Minister's Residence and Diplomatic Centre and two performing arts academies. Contracts for these projects, which was in excess of $1.5 billion, were awarded to the Chinese firm, SCG International (T&T).
SCG also took on other work for the State in the market, such as the Public Administration Tower in Port-of-Spain, as well as construction of a controversial church at the Heights of Guanapo, Arima. Other Chinese contractors, such as Beijing Luijian Construction Corporation, were awarded contracts to build schools, among them the Tranquility Government Primary School. The China Railway Construction (Caribbean) Company was awarded a $700 million contract for the completion of the Scarborough Hospital in Tobago.
Education
In January, the Arthur Lok Jack Graduate School of Business signed a memorandum of association with China's International Co-operation Centre to deepen educational ties.
Military
The Chinese Army paid a visit earlier this year. General Ma Xiaotian, deputy chief of the General Staff of the People's Liberation Army, paid a visit from February 28 to March 2, on an invitation from the Ministry of National Security.
