This country’s sole electricity company has allocated $18 million dollars to the rehabilitation of its hydro plants.
At a media conference this morning, held at the company’s headquarters in Kingstown, Chief Executive Officer, Thornley Mayers said that the rehabilitation and reconstruction work has been ongoing over the last few years.
Mayers said that while some of the work was scheduled, some had to be carried out because of natural disasters like Hurricane Tomas and the flooding of 2013.
The CEO made mention of the fact that all the rehabilitation work is internally funded. He said that over the years the company has saved money from its operations and this is significant, because it meant there was no need for borrowing from financial institutions.