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UAE's JBF RAK PET output stalls amid debt restructuring - COO

Reuters  |  DUBAI/BANGALORE 

By Tom Arnold, Hadeel Al Sayegh and Tanvi MehtaDUBAI/BANGALORE (Reuters) - JBF RAK, a United Arab Emirates subsidiary of Indian polyester maker JBF Industries, expects to resume production of PET resin as soon as next month after financial problems in the group disrupted operations, a senior company official said."Restructuring talks with banks are ongoing and the outcome will be for the benefit of all stakeholders," JBF RAK's Chief Operating Officer Rohit Maindwal told Reuters by telephone on Thursday.The firm is in talks with banks about renegotiating around 2 billion dirhams ($544.6 ...

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First Published: Thu, August 10 2017. 19:28 IST
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