According to Trinidad and Tobago Newsday, the company will begin planning a refurbishment of the plant immediately and will look to restart the facility with the next 12 months. 

“We believe there is great potential for the plant to return to the forefront of global steelmaking technology and performance. We are confident we will be able to bring on stream and operate an efficient, cutting-edge steel mill,” TT Iron Steel founder and president Gus Hiller told the publication. 

“The restart of this plant will create a long-term sustainable industry that generates secure employment and wealth for generations to come,” he added. 

The company announced its intent to buy the idled facility in June 2023.