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Sep 3, 2019

A Public/Private Partnership for Local LPG Industry

Dr. Gilbert Canton

The idea of a public/private partnership with the Government of Belize is based on similar models employed elsewhere in the region.  In this case, G.O.B. will have a twenty-five percent stake in the National Gas Company, as well as a seat on the board of directors.  The agreement, following the introduction and passage of the bill, is for a fifteen-year period after which the assets of the company will be handed over to the government.  During that time shareholders will be able to recoup on their investments.

 

Dr. Gilbert Canton, Managing Director, NGLC

“We came up with the concept to say, “Okay, government said right away that they don’t have any wherewithal, any money to put into a project like this and we said, you know, “We could use a proven development model which is basically a public/private partnership and this kind of model is being touted around the world and more so now in the Caribbean region and we’ll take it a little bit further to actually make it a full-fledged PPP, a public/private partnership in terms of looking at a build, own, operated and transfer mechanism.  So what that does is the government identifies basically a public infrastructure need, they then leverage the private sector resources which might be finance and technical know-how, you know, we had the technical know-how and we can put the finance together and then you build the infrastructure and then you own it and operate it until you get your return out of it, your financing out of it and then you transfer that facility to the government.  So it’s a proven model of how you can get public infrastructure built in a country, especially in a developing country.”


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