Virgin Island residents can expect to learn more about what is going on at Limetree Bay Terminals and what interest the Chinese have in the territory during the week of Sept. 12 when a delegation from China arrives.
Limetree Bay, partnering with ArcLight Capital, purchased the assets of Hovensa and, according to online reports, executed a 10-year lease agreement for 10 million barrels of storage capacity with China Petroleum & Chemical Corp. (“Sinopec”) as well as a series of other lease agreements.
Darius Sweet, who was senior vice president of refining at Hovensa and who is now chief executive officer of Limetree Bay, did not return a call concerning the reported upcoming visit of a Chinese delegation and events surrounding it.
All that Cherie Munchez, the governor’s communication officer, would say Tuesday in an email was, “We can confirm that there will be meetings during the visit and a public function with fireworks on Sunday.” Munchez said more details would be available Wednesday.
Gov. Kenneth Mapp said he thought the upcoming visit from the Chinese would be the official grand opening of Limetree Bay Terminals.
In May at the invitation of Sinopec, Mapp went to China on a “trade mission” that would explore additional investment in the territory.
Mapp said at the time, “Sinopec has a very serious interest in making additional investment on St. Croix,” adding that the trip would allow for further discussion on a “potential deal” that could result in the establishment of a “major brand hotel” on St. Croix.