PUB to take over Tuaspring plant if Hyflux cannot fix its defaults by April 5

SINGAPORE- To safeguard Singapore's water security, water agency PUB will terminate the water purchase agreement with Hyflux and start the process of taking over its Tuaspring plant if the beleaguered water treatment firm is not able to fix its defaults by April 5.

This comes after Tuaspring Pte Ltd , a wholly owned subsidiary of Hyflux, asked PUB on Wednesday to clarify whether PUB will buy Hyflux's largest asset - the entire Tuaspring Integrated Water and Power Plant - or just the Tuaspring desalination plant , upon termination of the water purchase agreement.

If PUB bought only the desalination plant, there is a high likelihood that Tuaspring Pte Ltd will have to pay PUB a compensation sum under the agreement. The Straits Times understands that the plant's secured creditor, Maybank, will be paid first before other general creditors.The PUB said in a statement that TPL has been unable to fulfil various contractual obligations under the water purchase agreement since 2017. In response to queries from The Straits Times, a PUB spokesman said:"TPL has failed to provide the required plant capacity on multiple occasions.

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