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Debt-Burdened TPPI Oil RefinerY Extended

Wednesday, March 28, 2012

The government is allowing petrochemical refinery Trans Pacific Petrochemical Indotama (TPPI) to reschedule its debt repayment of over a billion dollars. What will this latest debt restructuring produce?

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The meeting which took place two weeks ago at the offices of the Coordinating Minister for the Economy Hatta Rajasa proceeded smoothly. At the end of it, one critical decision was made: delaying the final implementation date of the debt restructuring dealthrough which petrochemical refinery Trans Pacific Petrochemical Indotama (TPPI) was supposed to pay off its trillions of rupiahs worth of debt to creditorsby one month. "There are several matter

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