Hyflux Unit Signs $138.7 Million Export Credit Financing Pact

Hyflux Ltd.’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.