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Beleaguered JAC suffers yet another setback

Last week's fire that razed one of its storage tanks also destroys all hope of Jurong Island plant restarting soon

Published Tue, Apr 26, 2016 · 09:50 PM
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Singapore

IT is one setback after another for beleaguered petrochemical producer Jurong Aromatics Corporation (JAC).

Just as the firm's receivers were completing talks on a tolling agreement, a fire that razed one of its storage tanks last week also destroyed all hope of the plant on Jurong Island restarting any time soon.

JAC, whose US$2.4 billion plant had been idle for the whole…

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