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NEA, Hyflux-Mitsubishi consortium sign waste-to-energy services deal
THE National Environment Agency (NEA) on Monday signed a waste-to-energy services agreement with a consortium comprising Hyflux and Mitsubishi Heavy Industries (MHI).
The consortium, through its project company, TuasOne Pte Ltd, will build Singapore's sixth waste-to-energy (WTE) plant and will provide waste-to-energy services to NEA over a 25-year period from 2019 to 2044.
Hyflux owns a 75 per cent stake in TuasOne while MHI owns the remaining 25 per cent.
The plant will be Singapore's largest. It will have a capacity to incinerate 3,600 tonnes of waste and generate 120MW of electricity per day. It will also be the most land-efficient, sitting on 4.8 hectares of land. Construction work is expected to start in early 2016 and end in 2019.
Shares of Hyflux finished flat at S$0.70 on Monday.