Singapore water company Hyflux Ltd. (600.SG) said late Monday it has secured financing of S$150 million ($122.4 million) for the construction of a desalination facility that is part of a S$890 million Tuaspring desalination plant project.
The financial package was arranged by DBS Group’s (D05.SG, DBSDY) DBS Bank, Mizuho Financial Group’s (8411.TO, MFG) Mizuho Corporate Bank and Sumitomo Mitsui Financial Group’s (8316.TO, SMFG) Sumitomo Mitsui Banking Corp., the company said in a statement filed to the Singapore Exchange.
Hyflux also said it is “on track to securing financing” for the power-plant facility to be build in the Tuaspring Desalination Plant, but it didn’t elaborate on its potential size.
Construction is due to start in the fourth quarter of this year, with the plant to commence operations in 2013, the company said earlier this year.
