Hyflux Ltd. (HYF)’s unit Hydrochem (S) Pte. signed a $138.7 million export credit financing agreement for a power plant in Singapore, the company said in a filing to the Singapore stock exchange today.
The agreement with Germany’s Kfw Ipex-Bank GmbH will be used to fund the purchase of key components for a power plant in the Tuaspring desalination project in Tuas, Singapore, according to the statement.
Construction work on the 411-megawatt power plant is “progressing well,” it said.
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