WILLEMSTAD--Recently, the Curaçao Chamber of Commerce and Industry held its Annual Dinner at the Renaissance Hotel Curaçao, where the president of the Chamber, Billy Jonckheer, presented the organization's view of the status of the Curaçao economy and what should be done to grow the economy productively.
One of the points brought forward was the importance of the reforms through the so-called “Landspakketen”. Jonckheer referred to a potential new sector in which Curaçao develops as a retirement jurisdiction, which is a sustainable concept that would produce high-paying jobs and have a positive effect on other pillars, such as tourism.
During the event, the keynote speaker, Harold McLallen, CEO of Steamboat Fuels LLC, introduced a sustainable and green production project that is in development and reaching a roll-out phase in Curaçao. Steamboat Fuels will be building a facility at Bullenbaai that produces biofuels. McLallen presented the highlights of the production process for biofuels and explained the reasons for choosing Curaçao as the location for this project.
According to McLallen, the biofuel comes from renewable feedstock that will be pre-treated and ultimately turned into renewable fuel. The production plant will have a capacity to produce 13,000 barrels a day, which product will be refined at a consumer level and exported to relevant markets. McLallen also highlighted strategic advantages for this type of production activity, including availability of suitable land, existing marine infrastructure that can be leveraged to support a refinery, experienced refinery workforce, favourable international trade framework providing for market access for products of Curaçao origin, and favourable tax regime for export-oriented production.
Steamboat Fuels has already received all the necessary permits to start operating the pre-treatment plant and is in the process of transacting the permits for the refinery, expanding Curaçao’s sustainable production footprint.
According to McLallen, this project will have a substantial economic impact, creating over 1,000 construction jobs during the 24-month development period, approximately 500 full-time directly employed jobs for skilled labour positions during operations, and demand for the support of independent local contracting companies focused on the refinery industry. The projected annual revenues are in excess of USD 1.5 billion a year, and the green energy production will help diversify Curaçao’s economy while utilizing the specialized legacy workforce in traditional refinery operations.
