Jurong Aromatics Restructures Financing

Jurong Aromatics Corp. (JAC; Singapore) has restructured the financing for a previously announced $2.3-billion aromatics project at Jurong Island, Singapore, CW has learned (CW, Nov. 14, 2007, p. 17). The company denies industry rumors that the project is in difficulty due to the expected downturn in the petrochemical sector, and in aromatics in particular. “We have recently had some structure enhancement to the project because of the credit crunch in the financial sector,” Ewe Ee Foong, CEO of JAC tells CW. The project will start up in the latter...

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