Vincentians have good news.

Six storage tanks and one sphere slated to be constructed here are expected to significantly increase this country’s fuel storage capacity and improve the lives of Vincentians.{{more}}

A visit to the Lowmans Bay power plant of the St. Vincent Electricity Services (VINLEC) and the nearby Petro Caribe project unveiled the potentially good news.

On Tuesday Prime Minister Dr. Ralph Gonsalves and members of his cabinet along with Venezuela Ambassador to St.Vincent and the Grenadines His Excellency Joel Perez Marcano visited the site at Lowman’s Bay.

Gonsalves said such projects direactly affect the quality of lives persons throughout St.Vincent and the Grenadines, be it Buddy Gutter, Montrose, Cane Garden, Georgetown or Fitz Hughes.

“Sometimes a fellow feels that it’s only a piece of dirt road that isn’t fixed relates to the quality of their lives,” said Gonsalves.

The tanks which will store diesel (two tanks), gasoline (two tanks), water (one tank), jet fuel (one tank) and LPG (sphere) are being constructed at a cost of US $ 27 million, which is being provided by the government of Venezuela.

The two diesel tanks already under construction are expected to be completed by July this year, with the entire project scheduled to come to an end by mid 2011.

Ambassador Marcano said that the project is a very important not only in a monetary sense but also integration of the two countries and for the people of the region, as well as Latin American region.

“We are very satisfied about the development of these works and we anticipate that very soon the people of St. Vincent and the Grenadines would benefit from this,” said Marcano.

“We want to convey to you that the Bolivarian Republic of Venezuela with President Chavez at the head will continue to help the people of St. Vincent and the Grenadines.”

Meanwhile, as VINLEC prepares to install two new engines at the Lowmans Bay power plant, Chief Executive Officer of the company Thornley Myers indicated that a conversion to Heavy Fuel Oil may lead to the reduction of the ever present Fuel Surcharge.

During the entourage’s visit to the power plant, Myers said that the expansion of the plant to commission two new engines had fuel oil conversion as its focus.

“One of the issues we are looking at here is to have diesel changed to heavy fuel,” Myers indicated.

“These facilities give us the possibility that we can change from light fuel to heavy fuel, and that is where we will see a significant reduction in the fuel surcharge.”

Heavy Fuel is described as a fuel with a heavier viscosity and is generally cheaper than the diesel that is bought and used for the production of electricity.

“Once you have made the investment in heavy fuel oil and you can get it significantly cheaper, customer will see that reduction,” said Myers.

Myers indicated that the brand new engines that are to be installed would be able to process heavy fuel and when this is done, immediately consumers will see a reduction in their electricity bills.

Apart from the possibility of processing Heavy Fuel, Myers pointed out that the two BMW Mann diesel engines are expected to double the nearly 10 megawatts output.

Myers and Site Manager, Mark Lulley, were congratulated by Prime Minister Gonsalves for the work being done at the plant.