Appraising Aluminium Smelters In
Small Island Developing States
Author(s)
J. Ram
Abstract
Trinidad and Tobago are the most southerly of the Caribbean islands located just
11 kilometres (7 miles) off of the north east Venezuelan coast. The country has
been engaged in the international oil market for over a century utilizing its
hydrocarbon resources to boost economic development. Most of the country’s
foreign exchange earnings come from the export of oil and gas and related down
stream industries such as methanol, iron and steel and ammonia. The thrust to
monetize the gas reserves continues in Trinidad and Tobago and the government
has recently signed agreements for the construction of two aluminium smelters.
However, concerns have been raised that aluminium smelting could have
negative environmental and social consequences for a small island developing
state. The economic question is how should a small island developing country
balance the need for further economic development with its concern for
ecosystem conservation and possible alternative livelihoods in the future? What
are the true benefits and costs of aluminium smelting to a small island
developing state? Are the possible environmental costs minimal or significant?
Should aluminium smelting be powered by electricity generated by natural gas, a
non-renewable resource? What is the user cost associated with an aluminium
smelter using natural gas as its power supply. What are the valuation techniques
necessary to analyse such a policy?
Keywords: appraisal aluminium smelting, user costs, small island states.
1 Introduction
The republic of Trinidad and Tobago (T&T) is located 12 kilometres off the
north east coast of Venezuela and is the most southerly of the islands comprising
the Caribbean archipelago. The population of T&T is approximately 1.3 million
Keywords
appraisal aluminium smelting, user costs, small island states.
Related Book
Other papers in this volume
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