Hyflux

Hyflux has signed a new agreement novating the engineering, procurement and construction contract for its TuasOne waste-to-energy project to Mitsubishi Heavy Industries, ending a prior settlement agreement.

Utico, a UAE-based utility company, agreed to acquire an 88% stake in Singapore's Hyflux, a water treatment company. The total deal value is approximately S$535 million, including a S$400 million commitment to Hyflux. Hyflux will remain a separate listed entity.

Hyflux was awarded a contract by Asia Water Development Engineering Company to design, manufacture and supply a seawater reverse osmosis desalination package in Bandar Abbas, Iran, valued at about €68.7 million with an additional €10.5 million for optional add-ons.