Evolving TecKnologies and Enterprise Development Company Limited (e TecK)
Overview and Mandate
Evolving TecKnologies and Enterprise Development Company Limited, widely known as e TecK, is a special purpose State Enterprise operating under the purview of the Ministry of Trade and Industry (MTI) of the Government of the Republic of Trinidad and Tobago. The company's fundamental purpose is to function as a crucial agent for economic diversification and enterprise development within the country. E TecK was initially established to provide the necessary land space and infrastructure where non-oil and gas industries could be fostered, developed, and expanded, thereby stimulating economic growth and reducing the nation???s dependence on the energy sector.
The strategic direction and mandate of e TecK were formally revised and refocused by the Cabinet of Trinidad and Tobago in February 2013. The company???s core focus shifted to three primary areas of asset management and development: Real Estate Development, Real Estate Management, and the Management of Hotel Assets. This specialized mandate ensures that e TecK is dedicated to delivering modern, sustainable, and commercially viable real estate solutions to qualified tenants, developers, and operators.
Continue…Core Business and Activities
The actual operations of e TecK are centered on the development and management of strategic economic and industrial real estate, alongside the stewardship of significant tourism assets. The company's activities are directly aligned with its core responsibilities as defined by its mandate:
1. Real Estate Development and Facilitation of Economic Zones
E TecK is tasked with the development of new, modern economic zones, often through public-private partnerships. This activity is vital for creating a physical environment that can successfully expand and diversify Trinidad and Tobago???s economic base. The company is responsible for the overall planning, development, and outfitting of these new industrial estates to attract both local and foreign investment into non-energy sectors.
2. Management and Optimization of Industrial Parks
A significant portion of e TecK???s operations involves the management, improvement, and commercial optimization of its existing portfolio of industrial parks. This involves continuous efforts to improve the infrastructure, operations, and services within these industrial parks and economic zones. The goal is to manage these assets on a commercially viable basis, providing over 300 tenants with innovative and sustainable real estate solutions that offer long-lasting value. The company maintains and upgrades the infrastructure of these parks to ensure they are fully optimized.
3. Management of Hotel Assets
E TecK also holds the responsibility for the asset management of major entities within the country's tourism sector. This contribution to the tourism economy involves the strategic oversight and management of prominent hotel assets.
Products and Services Offered
E TecK???s offerings are primarily structured around providing physical industrial space, land, real estate management, and commercial property solutions. The products and services can be categorized as follows:
Industrial Real Estate and Economic Zones
- Light Industrial Parks (LIPs): The company owns and operates a substantial portfolio of physical real estate, including twenty-one (21) Light Industrial Parks located across Trinidad and Tobago. These parks are the primary product, offering developed and serviced land space for businesses in the light manufacturing, service, and other non-oil and gas industries.
- Tamana InTech Park: A key asset and development, the Tamana InTech Park is included in the company's portfolio and is designed as a premier technology and industrial hub.
- New Economic Zones: The pipeline of future offerings includes new developments such as the Moruga Agro-Processing Park and the Phoenix Park Industrial Estate, which will cater to specific sectors like agro-processing.
- Leasable Properties: The company offers various types of properties for lease within its parks, including:
- Leasable Lots for Light Industry Activity.
- Leasable Lots for Commercial Activity.
- Factory Lots and multi-purpose units.
- Real Estate Management Services: For its tenants, e TecK provides comprehensive real estate management and operational support services, including the maintenance and improvement of park infrastructure.
Hotel and Tourism Assets
- Asset Management of Major Hotels: E TecK provides asset management services for two nationally significant hotel properties, which are key components of the country's tourism product:
- The Hilton Trinidad and Conference Centre.
- The Magdalena Grand Beach and Golf Resort in Tobago.
Through these activities, e TecK positions itself as a central driver of the diversification efforts of the Trinidad and Tobago economy, facilitating business growth by developing and managing sustainable and modernized real estate solutions.
