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Monday, 4 July 2011

TUASPRING PTE LTD SECURED FINANCING OF S$150 MILLION TO FUND TUASPRING DESALINATION PLANT

Hyflux Ltd (“Hyflux” or “the Company”) is pleased to announce that its wholly-owned subsidiary, Tuaspring Pte Ltd, has secured financing of S$150 million to fund the desalination facility of the Tuaspring Desalination Plant (“Tuaspring Plant”).

The financial package is arranged by DBS Bank Ltd, Mizuho Corporate Bank, Ltd and Sumitomo Mitsui Banking Corporation.

The Company also wishes to announce that it is on track to securing financing for the power plant facility that will be installed on site.

The Engineering Procurement and Construction (“EPC”) works for the desalination facility of the Tuaspring Plant shall be undertaken by a wholly owned subsidiary of the Company and construction is estimated to be completed within 24 months from notice to proceed.

This funding arrangement is not expected to have a material financial impact on the Hyflux group for the current financial year.
Posted by Createwealth8888 at 21:21
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