THE Board of Directors of JG Summit Holdings Inc. (JGS) approved the proposal to infuse additional capital of up to P11 billion into its wholly-owned subsidiary, JG Summit Olefins Corp. (JGSOC).
This infusion is primarily intended to pay off JGSOC’s maturing obligations and to support its operations.
JGSOC, a wholly owned subsidiary of JGS, is engaged in the operation of a naphtha cracker plant and other related facilities for the production of polymer-grade ethylene, polymer-grade propylene, pyrolysis gasoline, mixed C4, pyrolysis fuel oil and other products and their byproducts.