JG Summit Holdings Inc., the holding company of business tycoon John Gokongwei is looking for finance for its proposed US$600 million naphtha cracker in Batangas. The company is negotiating with multilateral lending institutions and commercial banks for the loan. The company plans to have the project funded by loans from commercial banks and financial institutions, on a "nonrecourse" basis - the parent company will not guarantee the loans.
The company plans to arrange the loans within the year so that construction of the country's first naphtha cracker can be completed in 4-5 years.
30-Jun-06 
