Phoenix park

Phoenix Park takes shape

Phoenix Park Industrial Estate – a joint logistics development between Trinidad and Tobago and the People’s Republic of China (PRC) – is the first of its kind in the Caribbean.

The project is part of China’s Belt and Road Initiative. The backers of Phoenix Park believe its unique location for both domestic and international investors will prove compelling. Situated on 144 acres in Point Lisas, the Park is only 10 minutes away from the Point Lisas Industrial Estate which is managed by PLIPDECO. It is also just minutes away from Port Point Lisas, the country’s second largest port with a significant container handling capability. This gives exporters and re-exporters the advantage of easy access to regional and global consumer markets. As it is, the PLIPDECO Estate is already home to over 100 companies – mainly involved in the production of petrochemicals.

The Park will be at aimed at those in the freight and logistics sectors, but also at firms involved in assembly, light manufacturing and the ICT sector. A date of December 2021 is being set for construction completion and after which companies can start moving in.

Promotional

Local promotional agency InvesTT is charged with marketing Phoenix Park and has leasable lots available and for a range of activities from light industrial to commercial units as well as factory shells.

Lease rates are USD 0.75 per square ft. per month. Land lots are USD 15,800 per acre per annum. Additional Value Added Tax and Common Maintenance charges also apply.

Being part of the Belt and Road Initiative is key. Sekou Alleyne, President of InvesTT, says: “Coming out of this initiative, we are targeting Chinese exporters to set up at the Park in addition to local and other foreign businesses.”

Despite its closeness to PLIPDECO, Phoenix Park will operate independently as a Special Economic Zone. Alleyne adds: “The proximity of the port of Point Lisas will create value for exporters operating on the industrial estate.

Once complete, Phoenix Park will be managed by the local Evolving TecKnologies & Enterprise Development Co (eTecK).