TT Iron Steel’s Delayed Restart of Former ArcelorMittal Point Lisas Plant: Challenges and Progress
TT Iron Steel Company’s acquisition of the ArcelorMittal Point Lisas Plant in June 2023 was seen as a promising new chapter for the iron and steel industry in Trinidad & Tobago. The facility, once owned by the world-renowned steel producer ArcelorMittal, is strategically located in the Point Lisas Industrial Estate, a hub for heavy industries in the Caribbean nation. However, as of March 2025, despite TT Iron’s optimistic projections, the plant is still not operational.
Acquisition and Initial Plans for Restart
The sale and purchase agreement signed between TT Iron Steel and Christopher Kelshall, the liquidator of ArcelorMittal Point Lisas Ltd, was heralded as a crucial step in revitalizing the plant. In June 2023, the company announced plans to invest between US$150 million and US$200 million (TT$1 billion to TT$1.4 billion) over a 24-month period to refurbish and restart operations. The initial goal was to bring the plant back online by December 2024, creating a modern steel mill that would bring economic benefits to Trinidad & Tobago.
Founder, president, and CEO of TT Iron, Gus Hiller, expressed confidence in the project's success, stating, “We are confident we will be able to bring on stream and operate an efficient, cutting-edge steel mill.” The intended restart was expected to provide sustainable jobs, stimulate local industry, and contribute to global steel production. However, as of now, those promises have yet to be realized.
Delay in Restart: Challenges Facing TT Iron Steel
Despite TT Iron’s optimistic initial projections, the restart of the facility has been delayed multiple times. Monty Pemberton, Chairman of TT Iron, confirmed that the plant is still not operational, but he refrained from providing a new timeline for the start-up. In a statement made in March 2025, he explained that the company is working diligently on the refurbishment process, but that the complexity of restarting the plant after nine years of dormancy has led to unavoidable delays.
“We are working diligently to expedite the safe start-up of the plant. These things do not happen overnight, and the overall policies and procedures of the plant have to be updated as this facility has been down for more than nine years,” said Pemberton. This statement highlights the technical, logistical, and regulatory challenges involved in restarting a large industrial facility that has been inactive for nearly a decade. Many systems need updating, including safety protocols, operational procedures, and machinery that may have deteriorated in the long period of inactivity.
The Refurbishment Process: Safety and Sustainability Priorities
The facility has been inactive for more than nine years, making it a particularly challenging task to bring it back into operation. The extensive refurbishment work involves not only updating machinery and replacing outdated equipment but also revising the plant’s policies and procedures to align with modern industrial practices. TT Iron is focusing on creating a safe and sustainable production environment, ensuring that the plant meets current standards for safety and environmental impact.
Chairman Monty Pemberton also stressed that safety remains the top priority, stating, “We will not start any work on the plant until we are sure that everything is in place to ensure safe and sustainable production.” This commitment underscores the company’s cautious approach to restarting the facility, which, while causing delays, ensures that any future operations will be secure and long-lasting.
Economic and Social Impacts of the Delay
The delay in restarting the TT Iron steel plant has significant economic and social implications for Trinidad & Tobago. The plant was expected to play a major role in local economic development, providing secure employment for hundreds of workers, as well as generating additional economic activity in related industries. The country has been seeking ways to revitalize its industrial sector, and the successful restart of the plant could have contributed to reducing its reliance on imported steel and fostering a sustainable manufacturing environment.
However, with the delays, the local workforce remains uncertain about when or if these promised benefits will materialize. Many workers were hopeful that the plant would quickly come back online, offering not only stable jobs but opportunities for skill development and career advancement in the steel industry.
Long-Term Vision and Investment in the Future
Despite the setbacks, TT Iron Steel remains committed to its long-term vision of creating a modern, competitive steel mill. The company envisions the plant becoming a key player in the global steel industry, providing high-quality steel products for various markets. The investment in refurbishing and modernizing the facility also aligns with broader economic diversification goals for Trinidad & Tobago, as the government seeks to reduce the country’s dependence on oil and gas exports and increase its share in manufacturing and industrial output.
The plant’s potential to boost local industry and provide employment remains a key part of TT Iron’s broader economic impact. By revitalizing the facility and incorporating cutting-edge technologies, TT Iron aims to position Trinidad & Tobago as a competitive player in the global steel market.
Challenges of Revitalizing Industrial Assets
The TT Iron Steel plant’s delayed restart highlights the complexities of revitalizing large industrial facilities after long periods of inactivity. Such challenges are not unique to the steel industry but are common in sectors where capital-intensive equipment and complex systems are involved. Companies looking to take over dormant industrial assets must navigate issues related to obsolete equipment, regulatory updates, environmental standards, and technological upgrades.
TT Iron’s careful approach to the process, though slow, is intended to ensure that the plant is modernized to international standards, ultimately contributing to the sustainable growth of Trinidad & Tobago’s manufacturing sector.
Key Takeaways:
• TT Iron Steel acquired the ArcelorMittal Point Lisas Plant in June 2023 with plans to restart production by December 2024.
• The refurbishment cost is expected to be between US$150 million and US$200 million (TT$1-1.4 billion), with further investments required for continued development.
• Chairman Monty Pemberton confirmed the plant remains non-operational, with the start-up delayed due to the extensive work needed to update policies, procedures, and equipment after nine years of inactivity.
• The focus on safe and sustainable production is a key priority, with modern safety protocols being implemented before operations can resume.
• The plant’s delay in restarting is causing uncertainty regarding local job creation and economic growth, particularly in the steel manufacturing sector.
• Despite the setbacks, TT Iron Steel remains committed to revitalizing the plant and creating a competitive, modern steel mill for Trinidad & Tobago.
