Petrochemical project feels the pinch

Article Abstract:

Construction on the proposed $2.5 bil PT Trans-Pacific Petrochemical Indotama (TPPI) will cease on March 1998, save for dredging port facilities. The delayed project has joined the long roster of projects that were hurt by the Asian financial crisis. Mihir Taparia, TPPI's executive vice president and CEO, expressed faith that work, which started in 1996, can proceed within a year since he anticipates export-credit agencies to look kindly on the project.

Heavy construction, not elsewhere classified, Manufacturing and Industrial Building Construction, Petrochemical Manufacturing, Cyclic crudes and intermediates, Petrochemicals, Chemical Plant Construction, Buildings and facilities, Petroleum chemicals industry, Petrochemicals industry

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Rupiah's liberty deals double blow to debt-laden firms; painful adjustment to foreign-exchange volatility dawns upon southeast Asia's market change

Article Abstract:

The Indonesian government's decision to remove the trading band that held the Rupiah within 12% of the US Dollar will weaken firms earning in local currencies and make foreign currencies flow out of the country. The decision is aimed towards liberalizing financial markets and the devaluation of various currencies in the Southeast Asian region is seen to continue as the demand for foreign currencies rise.

Administration of General Economic Programs, Currency Stabilization Programs, Analysis, Economic aspects, International aspects, Economic policy, Financial markets, Monetary policy, Southeast Asia, Currency devaluation, Devaluation (Currency), Currency stabilization, Foreign exchange market, Rupiah (Indonesia)

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