Petrotrin’s Chairman Wilfred Espinet says the state-owned company is still interested in moving ahead with its Ultra Low Sulphur Diesel Plant.

Mr Espinet says the venture is critical as their state enterprise takes steps to remain competitive.

He made the comments on Wednesday before a parliamentary Joint Select Committee Chaired by Finance Minister Colm Imbert.

It was revealed at the sitting that Petrotrin has a close to $3 billion dollar debt to the government and these include petroleum profits taxes, royalties and supplemental petroleum tax.

Petrotrin Board Director, Nigel Edwards, admitted that going forward it cannot be business as usual, adding the company will continue to see cash flow challenges.