WIOC hands over big check to the government

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PM Gaston Browne receiving the 2016 dividends cheque from the West Indies Oil Company to government for EC $5, 324, 801. Funds will be used for national development

Prime Minister Gaston Browne has welcomed EC$5,324,801 in the form of dividends from West Indies Oil Company (WIOC).

The presentation was made at the cabinet’s final press conference for the year this morning.

Browne said the payment will go towards the National Asset Management Company (NAMCo) to invest in the country.

WIOC CEO Gregory Georges told the news conference that the cheque, which represents the share of profits for 2016, came as a result of hard work from employees.

“We’ve had a tremendous year,” Georges said referring the company’s tank expansion programme.

“We expect to see continued profits in the region. We are a well-governed, well-managed local business,” he said.

The CEO also thanked the government for the freedom to run the business as a commercial entity.

The government has majority shares in WIOC.

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