In a one-sentence statement on April 17, PUB did not give further details on how it was going to take over the plant. It had earlier said it would be doing so at zero dollars, given Tuaspring’s current valuation, which is a negative number.
SINGAPORE (Apr 22): Announcements continue to be made thick and fast in the ongoing Hyflux saga. The Public Utilities Board (PUB) announced on April 17 plans to take over the Tuaspring desalination plant in 30 days. The national water agency, which has a contract to buy desalinated water from Hyflux, alleges that Tuaspring is not performing reliably.
On March 21, PUB already warned that it would take over the plant in the name of safeguarding Singapore’s water security — unless Hyflux was able to fix problems in its water supply agreement with PUB by April 5. This deadline was then extended to April 30.
