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PIL presents details of state aid package totaling USD 600 million

Pacific International Lines (PIL) is in talks with the state in Singapore to land a USD 600 million aid package, which will secure the debt-plagued container line's long-term survival, reveals a presentation sent to creditors.

Photo: Roslan Rahman/AFP/Ritzau Scanpix

Pacific International Lines (PIL) has presented creditors with a rescue plan that involves a state-funded aid package totaling USD 600 million.

The family-owned container line has long been in hot waters and is currently in advanced negotiations with a state-owned fund in Singapore concerning a large-scale restructuring.

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