Page 6 - UTILITIES 12 AUG'15

New prices
for petroleum
products

AS of August 12, 2015 petroleum products retail prices

have been adjusted.
The Minister of Economy, Communication, Energy and
Environment announces the adjusted retail prices for
petroleum products.

The new retail prices are as follows:

Gasoline unleaded-premium:
200, 6 cent per liter (-3, 7 cent)
Gasoil LS :
149, 0 cent per liter (-8, 3 cent)
Kerosene :
136, 0 cent per liter (-8, 7 cent)

The above mentioned prices include the BBO (turnover tax)
/BAZV (Health tax).

LED lighting project
delayed by new bank

THE island will not be equipped with LED lighting anytime soon. Elmar Power there is no problem with financing, because they’ve already found a bank willing
to fund the project. This is the new Canadian Imperial Bank of Commerce (CIBC);
Company’s LED project has been delayed for over two to three months by banks a Canadian bank that operates in Curacao and recently opened its doors on the
involved in negotiations on funding. According to Utilities Director Franklin Ho- island. The problem is “purely bureaucratic”
evertsz incumbent banks must accept the fact that the new CIBC bank in Aruba Hoevertsz said. CIBC could offer good export fee on the projects. The incumbent
will fund the project. “And that that unfortunately will take longer than expected.” banks that already have a loan with Elmar and perhaps hoped to make the proj-
ect happen must decide whether they are going to agree for this newcomer to
The lighting project includes the plan to replace all 9000 lighting posts on the is- fund the project “On the question of whether the banks are not pleased with this
land with LED lights and placing 3000 additional LED lampposts. Elmar along with competition, he responds.: “It’s not just that they are not happy. They should give
Economy Minister Mike de Meza, Infrastructure Minister Benny Sevinger and Prime approval to this bank as a consortium. “We thought this would be a piece of cake,
Minister Mike Eman signed an agreement for these 12,000 LEDs last February. In but the agreement lasted longer than expected. “Elmar hopes that the issues will
the mean time the Canadian LED company Road Way that was recruited to install be resolved soon.” Hoevertsz said: “We want this to be settled within one to two
the lights on the island has to wait until Aruba takes care of the financing structure months so that the project can start. Then it will take another two years before the
for the project. Chris Dammers, chairman of the standing Committee on Finance, entire project is installed in Aruba.”
Economic Affairs and Government organization (CFEZO) said: “Those that have
been in contact with the government about the project have informed me that Elmar Saving
is working hard on getting the financing. I do not know how large this sum is, but
they are looking for someone to fund the project, that probably takes extra time.” The LED project will eventually save Aruba money. The government thinks that by
converting the current lights to LED lighting this will reduce maintenance costs by
New bank 30 percent. In addition, LED lighting consumes less power, thereby requiring less
oil in the future to generate electricity.
Utilities Director Hoevertsz argues that the case is different. According to him

ARUBA TRAVELLER - Wednesday, August 12 2015 3LOCAL