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BNP Paribas claims US$57.7m from Hyflux for Magtaa performance bond

Published Mon, May 6, 2019 · 09:50 PM

Singapore

HYFLUX has received a notice from BNP Paribas demanding payment of US$57.7 million, it said on Monday.

The French bank is claiming the sum in respect of a performance bond it issued to Hyflux associate company Tahlyat Myah Magtaa (TMM) in Algeria.

Hyflux owns a 47 per cent stake in TMM, which is the project company …

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