Hyflux bags Suez Canal desalination deal
Singapore's Hyflux has secured a letter of intent for an engineering procurement and construction contract for a 150,000 m³/d desalination plant in Egypt's Suez Canal Economic Zone.The US$ 500 million Ain Sokhna Integrated Water and Power project will include a 457MW gas- fired power station that will supply the desalination facility and export surplus to the grid. The deal includes a 25-year operations and maintenance contract.
"This project is significant to us because it is our first integrated water and power project abroad and demonstrates our ability to put together an innovative solution that is recognised internationally," said executive chairman and group chief executive officer of Hyflux, Olivia Lum.
The company has predicted that, subject to the signing of the contracts, the deal with have "a material financial impact on Hyflux for the financial year ending 31 December 2016.