Studley Park Enterprise

The Studley Park Quarry is a substantial land area containing some of the best aggregate material in the world used in construction. Its volcanic properties make it a superb, high value, revenue generating commodity for the Island of Tobago.

The Studley Park Enterprise Limited (SPEL) is charged with the management of the Studley Park Quarry. SPEL was incorporated on 19^th December 2016.  A Board of Directors was appointed to oversee management of the company.

The Board of Directors reorganized and repurposed the operations of the quarry and recruited a complement of competent professional, technical and skilled staff to conduct the operations of the new entity. SPEL commenced operations at the Quarry on November 06^th 2017.

SPEL has to date achieved its prime objectives of improving performance, productivity and profitability.  This has led to an improved level of production and sale of aggregate not only in Tobago, but also Trinidad. SPEL is also intent on establishing the necessary facilities to distribute aggregate throughout the Region.

BACKGROUND

The construction industry, both local and national has benefited from bountiful supply of quality aggregate from the Studley Park Quarry for over thirty-three (33) years.  By its existence, this coveted material has been the bedrock for the construction of private homes and commercial enterprises.  Further, material from the Quarry has been consistently used in road resurfacing and infrastructural projects undertaken by the Assembly and Government.  Moreover, yields from our quality volcanic rock was the preferred choice for several mega projects over the years to include the Scarborough Deep Water Harbour, the resurfacing of the ANR International Airport and LNG Trains I & II in Point Fortin, Trinidad.

As time passed, maintaining adequate and predictable supply to the local market and ensuring optimal production and growth became a challenge given the inhibitive structure that existed. Hence, the Tobago House of Assembly (THA), as parent body reviewed the position and moved to reengineer the management of the Studley Park Quarry so that Tobago could lay claim to greater and more meaningful returns within the construction and mining industry. The Executive Council endorsed the formulation of a wholly owned Special Purpose Company (SPC) to transform the operations and unearth the competitive strength of the Quarry. The operations were to be organized as a Strategic Business Unit (SBU).

By definition, a SPC is a discrete entity that has responsibility for its capital investment, revenue, expenses, assets and profitability while reporting to shareholders, in this case, the line Division of Infrastructure, Quarries and the Environment (DIQE).  The Quarry is ideally suited to accommodate this mode of organization, given the physical structure and operational parameters that characterize its operations.

In this arrangement, all activities in the business chain of operations would come under the control of a single management structure, with the management reporting in a monolithic arrangement to the parent organisation. Today, the model now sees an institution that can easily meander through dynamic business and trade situations, whilst capitalising on industry opportunities; all of which augurs well for corporate success and sustainability.