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Tuaspring Water Purchase Agreement

PUB announced the tender for its second desalination plant at Singapore International Water Week last year (see water video interview – Wastewater International). The transfer took place after the water purchase agreement with Tuaspring was terminated on Friday. A termination of the water contract could also allow the Salim-Medco consortium to cancel the contract, Hyflux said. PUB`s centre of gravity is to “put in place the necessary measures and modernization work to ensure that the Tuaspring desalination plant is capable of producing desalinated water reliably.” However, since 2017, it has had difficulty fulfilling its obligations under the water contract. More recently, it has provided no financial evidence to prove its ability to operate the facility for the next six months. SINGAPORE: The national water service PUB announced on Wednesday (April 17th) in Tuaspring, a subsidiary of Hyflux, that it will terminate the water contract and buy the tuaspring desaspring desaspring plant (TSDP). Tuaspring, a subsidiary of Hyflux, is the largest of the three desalination plants in Singapore and an important source of water for the city-state. “Given TPL`s current financial position, TPL`s inability to meet its contractual obligations is unlikely to change immediately in the longer term. PUB is taking steps to ensure that our water is safe.┬áPUB had given Tuaspring until April 30 to remedy the deficiencies related to the water contract. The deadline was extended from 5 April and was “subject to conditions,” although PUB did not say what they were. SINGAPORE, March 5 (Reuters) – Singapore`s national water agency, PUB, said on Tuesday it could take control of a water treatment plant owned by Hyflux after the company was unable to meet its contractual obligations. PUB and Tuaspring Pte Ltd signed a 25-year water purchase contract on April 6, 2011, with tuaspring required to deliver up to 70 million gallons of water per day to PUB by 2038, a responsibility that the desalination plant has not been able to maintain on numerous occasions. The water mooring contract signed in 2011 requires Tuaspring to deliver up to 70 million gallons of desalerated water per day to PUB for a period of 25 years, from 2013 to 2038.

The press release states that the procedure was “for the protection of Singapore`s water safety” and that “the notice provides for a 30-day delay before PUB takes the TSDP.” Khoo Teng Chye, CEO of PUB, said: “Desaled water, along with water from local basins, imported water and NEWater, forms the Four National Taps, which create a diversified and sustainable water supply for Singapore.” PUB explained that it sent a standard message to Tuaspring Pte Ltd to correct the deficiencies as part of their water purchase agreement. SINGAPORE – The national water service, the PUB, on Saturday (May 18th) bought the Tuaspring desalination plant of the troubled hyflux company. The debt-laden water treatment company is asking permanent and preferential retail shareholders to accept a 10.7% debt restructuring as part of their restructuring activities. “Pub is taking steps to ensure water safety,” he said. Pub had said last month that it was prepared to forego the amount of compensation to which it is entitled under the agreement and to buy the desalination plant for zero dollars. Pub said in a statement Saturday that the measure was “protecting water safety in Singapore.” The desalination plant, to be installed in Tuas, will be built according to the Design, Build, Own and Operate (DBOO) model and is expected to be commissioned in 2013.