Effective February 15, 2000, Import Administration began publishing "Decision Memos" to reduce the size of antidumping and countervailing duty Federal Register notices. In cases in which a decision memo was published, you will find a link to the memo listed below.

In addition, in the following programs, in instances below in which a proceeding was a Sunset Review, you will see the letters SR before "prelim" or "final".

COUNTERVAILABLE SUBSIDY PROGRAMS

The subsidy programs listed below have been investigated by the Department and have been found to be "countervailable" in the cases listed and during the periods reviewed based on the criteria established in the Tariff and Trade Act of 1930, as amended. Please refer to this Act for further detail of the criteria applied. In addition, you may click on the cases listed below the subsidy program title for a full explanation of the Department's analysis in those cases.

• STEEL PRODUCTS

Benefits Associate with the 1994 Sale of ISCOTT's Assets to CIL

Wire Rod (2000) 67 FR 6001 (2/8/02-prelim);   67 FR 169 (8/30/02-final);   Final Memo
Wire Rod (1996) 62 FR 41927 (8/4/97-prelim);   Suspended 62 FR 54960;   62 FR 55003 (10/22/97-final)

In December 1994, after all of ISCOTT's manufacturing activities had been sold, ISCOTT's liabilities exceeded its assets. CIL purchased most of ISCOTT's assets without being burdened by ISCOTT's liabilities. We determined this to be a countervailable benefit.

Government Equity Participation in ISCOTT

Wire Rod (2000) 67 FR 6001 (2/8/02-prelim);   67 FR 169 (8/30/02-final);   Final Memo
Wire Rod (1996) 62 FR 41927 (8/4/97-prelim);   Suspended 62 FR 54960;   62 FR 55003 (10/22/97-final)
Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 482 (1/4/84-final)

The Iron and Steel Corporation of Trinidad and Tobago (ISCOTT) was incorporated June 20, 1975 to serve as the vehicle for a joint venture between the Government of Trinidad and Tobago and three private investors.In 1978, ISCOTT and the GOTT entered into a Completion and Cash Deficiency Agreement (CDDA) with several private commercial banks in order to obtain a part of the financing needed for construction of ISCOTT's plant. Under the terms of the CDDA, the GOTT was obligated to provide certain equity financing toward completing of construction of ISCOTT's plant, to cover loan payments to the extent not paid by ISCOTT, and to provide cash as necessary to enable ISCOTT to meet its current liabilities. ISCOTT had large and continued losses in the years prior to 1986, and the GOTT advanced equity to the company. We determined that these advances in 1986 and in the years that follow, constitute countervailable subsidies.

ISCOTT Dock Facility

Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 485 (1/4/84-final)

During three quarters of 1982, ISCOTT had the free use of a specialized dock facility owned by GOTT, built with GOTT funds, and constructed for ISCOTT's used. During this time, ISCOTT did not either pay or accrue any rental fees for the dock. We determined that this constituted a countervailable benefit.

Point Lisas Industrial Estates Lease

Wire Rod (1996) 62 FR 41927 (8/4/97-prelim);   Suspended 62 FR 54960(10/22/97);   62 FR 55003 (10/22/97-final)
Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 485 (1/4/84-final)

The Points Lisas Industrial Development Company (PLIPDECO) owns and operates Point Lisas Industrial Estate. Prior to 1994, PLIPDECO was 98 percent government-owned. The term's of ISCOTT's lease of real estate in the Point Lisas Estate were established through negotiations with PLIPDECO over several years. We determined that any preferential nature of ISCOTT's lease vis-a-vis commericially available leases cannot be ascribed to ISCOTT's apparent negotiating advantages because such advantages are fully counterbalanced by the benefits ISCOTT receives by virtue of its choice location with the Estate. Therefore, we determined that ISCOTT received a countervailable benefit.

Preferential Prices for Natural Gas

Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 482 (1/4/84-final)

We determined that ISCOTT used gas supplied by the National Gas Company but is billed for its gas consumption by the National Energy Corporation. Both corporations are wholly-owned by the Government of Trinidad and Tobago. Because natural gas rates invoiced were lower than what was charged for gas usage at a rate equal to the average of those of other comparable large users, we determined this to be a countervailable benefit.

SUBSIDY PROGRAMS FOUND TO BE NOT COUNTERVAILABLE

The subsidy programs listed below have been investigated by the Department and have been found to be "not countervailable" in the cases listed and during the periods reviewed based on the criteria established in the Tariff and Trade Act of 1930, as amended. Please refer to this Act for further detail of the criteria applied. In addition, you may click on the cases listed under the subsidy program title for a full explanation of the Department's analysis in each case where the subsidy program has been examined.

• STEEL PRODUCTS

Government Guarantee of Debt Service

Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 482 (1/4/84-final)

During the period 1978-1981, ISCOTT obtained several medium-term loans from private lenders and other government loan agencies in the United States and elsewhere that were guaranteed by the Government of Trinidad and Tobago. We determined that the GOTT guarantees did not give ISCOTT access to rates of interest which were below those obtainable by enterprises guaranteed by private U.S. investors. Futhermore, GOTT's action in not charging ISCOTT a guarantee fee was not inconsistent with that of a private major shareholder.

Loss Coverage or Absorption

Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 482 (1/4/84-final)

Equity infusions by the GOTT which may in some instances serve to offset initial operating losses may still be viewed primarily as investments in the capitalization and establishments of ISCOTT rather than as operating subsidies.

Short-Term Loans

Wire Rod (1982/83) 48 FR 48695 (10/20/83-prelim);   49 FR 484 (1/4/84-final)

Several short-term loans were provided from private sources to ISCOTT. Some of the loans were repaid and others were rolled-over. There is no evidence that these loans were made on a preferential basis.

SUBSIDY PROGRAMS DETERMINED NOT TO EXIST

The following subsidy programs were alleged by the petitioning industries and were investigated by the Department. However, during the investigation we found no evidence that such programs actually existed. If you click on the cases listed under the subsidy program title, you will be linked to each case in which the subsidy program was referenced. It is possible that, while the program named did not exist, a similar program having a different name actually was investigated. If this is the case, you will find that program listed elsewhere in this library.

• STEEL PRODUCTS

Loan Guarantee from the Trinidad and Tobago Electricity Commission

Wire Rod (1996) 62 FR 41927 (8/4/97-prelim);   Suspended 62 FR 54960;   62 FR 55003 (10/22/97-final)

By 1988, ISCOTT had accumulated TT 19,086,000 in unpaid electricity bills owed to the TTEC. To manage this debt, TTEC obtained a loan from the Royal Bank in the amount of TT 19,000,000 which enabled TTEC to more readily carry the receivable due from ISCOTT. By 1991, ISCOTT extinguished its debt to TTEC.

SUBSIDY PROGRAMS THAT HAVE BEEN TERMINATED

The subsidy programs listed below have been investigated by the Department and have been found to have been terminated based on the criteria established in the Tariff and Trade Act of 1930, as amended. Please refer to this Act for further detail of the criteria applied. In addition, you may click on the cases listed below the subsidy program title for a full explanation of the Department's analysis in each of these cases.

No programs listed.

SUBSIDY PROGRAMS THAT HAVE NOT BEEN USED

When potential subsidy programs are investigated and found not to be used by the companies being investigated, the Department makes no determination as to their countervailability. If you click on the cases listed under the subsidy program title, you will be linked to each case in which the subsidy program was referenced.

No programs listed.