Heritage Petroleum Company Limited (Heritage) has embarked on a project to dispose of its obsolete assets.
As a wholly-owned State company, Heritage said that it is guided by the principles of the State Enterprise Performance Monitoring Manual (SEPMM) and Heritage’s associated processes, procedures, and guidelines.
As such, the Company has adopted a public tender process.
The public tender process of inviting bids allows a wide cross-section of interested parties to participate by submitting bids instead of giving only one party/body the opportunity to bid.
According to Heritage, the Trinidad and Tobago Scrap Iron Dealers Association (TTSIDA) is advocating that the company deviate from the process of public tender or Invitation to Bid (ITB) and instead engage in a “sole-select” approach and engage with TTSIDA only for this project.
But, Heritage said it has never indicated to TTSIDA that it would deviate from the public tendering process.
Heritage said it is committed to a fair and transparent process in the disposal of its obsolete assets.
TTSIDA president Allan Ferguson said recently that the organisation has been overlooked by Heritage.
The organisation had expressed interest in the scrap metals since Petrotrin closed in 2018, but they had been sidelined as Heritage placed an advertisement in the newspapers inviting tenders from other entities.