Hyflux Ltd. (HYF), Singapore’s biggest publicly traded water company, said it signed an agreement with Hitachi Ltd. (6501) to deliver desalinated seawater to the Indian state of Gujarat as part of a $600 million project.
The 30-year industrial water purchase agreement is with Dahej SEZ, the company managing Dahej Special Economic Zone. The desalination plant construction is a part of the Delhi-Mumbai Industrial Corridor projects being promoted by the Japanese and Indian governments, the company said in a statement.
Hyflux also said last week that it will start discussions with lenders for its S$1.05 billion ($858 million) Tuaspring venture, the island’s largest desalination plant. Tuaspring is Singapore’s second seawater desalination facility.
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