Hyflux Seeks Loans for $858 Million Singapore Desalination Plant

Hyflux Ltd., Singapore’s biggest publicly traded water company, will start discussions with lenders on loans for its S$1.05 billion ($858 million) Tuaspring venture, the island’s largest desalination plant.

The company is seeking non-recourse project financing, where the lender can recoup payments from the venture’s profits, Hyflux said today in a statement. Development and construction at Tuaspring, Singapore’s second seawater desalination facility, is on track, according to the statement.