Debt-ridden Hyflux faces the prospect of selling its Tuaspring desalination plant for zero dollars to national water agency PUB if it fails to rectify defaults by April 5.
PUB clarified yesterday that it will purchase only the desalination plant, and not the power plant which sits on the same site. "This is because PUB is unlikely to recover the compensation sum from TPL, given its financial position," it said yesterday. Tuaspring is one of three desalination plants here which can together meet up to 30 per cent of the country's current water demand."Singapore's desalination plants are integral to our water security," said PUB.
Source: Loan Digest (loandigest.net)
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