HAVING DECIDED it is divesting its multi-million-dollar oil terminal at Fairy Valley, Christ Church, Government is taking steps to ensure that national security is not compromised by the eventual purchaser.
Sources close to the discussion told the DAILY NATION that while Government would retain a mere single golden share in the Barbados National Terminal Company Limited (BNTCL) worth one dollar, it was putting steps in place to ensure it retained the power to veto certain decisions of the company if they had the potential to put the country at risk.
According to one source, the Freundel Stuart Government is insisting that while it will sell the company to a local entity with a “proven track record in the oil industry”, it must retain “the right to veto any decision of the company to:
• refuse to allow petroleum products of acceptable industry standards into the terminal operated by the company . . . (RRM)
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