Hyflux Sets Up Venture to Explore Nigeria Water Treatment PlantsPooja Thakur
Hyflux Ltd., Singapore’s biggest publicly traded water company, has entered into a joint venture with Tolaram Corp. to explore opportunities for the development of water treatment plants in Nigeria.
Hyflux and Tolaram will hold equal equity stakes in Yewa Water Co. set up in Singapore, Hyflux said in a statement to the Singapore stock exchange today. Singapore-based Tolaram is involved in the distribution of food products and provision of logistics services in Nigeria, according to the statement.
Hyflux is focusing more on actively bidding for projects in the Middle East and Africa beyond its established markets in Asia. The outlook for the global water industry has improved and more water infrastructure projects are being made available for public tenders, it has said.