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Thai Fertiliser Firm Must Turn to Debt-Restructuring Process.
Byline: Santan Santivimolnat
Mar. 2--Industry Minister Suriya Juengrungruangkij has abandoned cash-strapped National Fertiliser Plc, saying its fate must now be decided by the debt-restructuring process.
However, the company's chief executive has expressed confidence that a solution to its cashflow problems can be found within a few weeks.
Since it began commercial operations in 1998, NFC has accumulated debts of 8.8 billion baht as well as unpaid interest of 1.5 billion. It reported a net loss of 1.9 billion baht for 2001, compared with a net loss of 1.7 billion in 2000.
Ending his efforts to seek additional funding to bail out the ...
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