It had noted a current valuation showed that the desalination plant's price is negative. The final price, however, will be determined later by an independent valuer, according to the agreement's terms.
A PUB spokesman said in response to media queries that the agency's focus is to put in place the necessary measures and upgrading works to ensure that the desalination plant is able to produce desalinated water reliably. "The extent of the measures and upgrading works will be determined after PUB conducts a more in-depth engineering assessment," the spokesman added.PUB had previously extended its deadline for Tuaspring to fix its defaults to April 30, subject to conditions.
But Hyflux decided earlier this month to walk away from a $530 million restructuring deal by SM Investments, an Indonesian consortium formed by Salim Group and Medco Group.Get The New Paper on your phone with the free TNP app. Download from the
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