Trinidad Cement Ltd (TCL) has issued a formal notification to its customers regarding impending price adjustments for cement products, directly linking the potential increase to the proposed natural gas price hike currently under consideration. The company’s general manager, Gonzalo Rueda Castillo, emphasized in a January 26 statement that natural gas serves as a fundamental component in cement manufacturing processes, making the proposed energy cost increase particularly impactful.
The National Gas Company’s anticipated decision on January 31 regarding natural gas pricing will determine the extent of necessary adjustments. Castillo clarified that should the gas price increase receive approval, TCL would be compelled to implement corresponding price revisions to maintain operational sustainability. The company highlighted that recent months have witnessed substantial cost escalations across multiple production aspects, including raw materials, packaging, and general inflationary pressures.
Despite expressing opposition to the proposed energy cost increase and ongoing engagement with relevant stakeholders, TCL acknowledges the unavoidable financial implications. The cement manufacturer emphasized its commitment to maintaining reliable supply chains and supporting Trinidad and Tobago’s construction sector while navigating these economic challenges.
In response to the announcement, former Energy Minister Stuart Young launched criticism against the current administration, characterizing the situation as evidence of governmental incompetence. Young’s social media statements warned citizens to anticipate broader economic repercussions, including potential increases in food prices and negative impacts on employment and foreign exchange stability.