Hyflux says that Tahlyat Myah Magtaa (TMM), the owner of the seawater desalination plant in Magtaa, Algeria, is suspending its termination notice of Hyflux’s operations and maintenance (O&M) contract with the plant.
The company received a letter dated July 22 saying that it is doing so in view of the continuing discussions among the stakeholders – including Hyflux and TMM – of the desalination plant in Magtaa.
In a July 23, 2020 filing, Hyflux says it first received a notice of termination dated June 4, which specifies that Hyflux Operation & Maintenance Algeria EURL (HOMA) has 40 days to cure certain purported events of default under the O&M contract.
HOMA is a wholly-owned subsidiary of Hyflux. Hyflux, in turn, has a 47% shareholding interest in TMM.
