Hyflux poised for global diversification says chief
Anticipated growth in the global desalination market is expected to help diversify revenue from Asia to the Middle East and African markets for Singapore water company, Hyflux, according to its chief executive Olivia Lum.Speaking to Water & Wastewater International magazine Lum said she anticipated revenues from elsewhere would align with the firm's core regions in Asia where some 87% of its revenue is made: " We do see a pick up from the Middle East, as well as Africa, so we do expect that over the next couple of years we will see some balance in revenue in Asia, Africa and Middle East."
Revenue from the Middle East and North Africa region contributed 7% according to Hyflux's last annual report. At the end of 2014 the company started up its 500,000 m³/day desalination plant in Magtaa, Algeria.
Lum said Hyflux's recently won design, build, own and operate contract to build a 200,000 m³/day independent water project in Qurayyat, Oman would be a springboard for the company in the Middle East. " Winning Qurayyat gives us more confidence - and also from Oman, we'll be able to launch into other countries nearby," she said