Hyflux shares surge on news of Egypt project

Singapore

HYFLUX shares surged as much as 12 per cent on Wednesday following news that it has won a letter of intent (LOI) for an integrated water and power project in Egypt.

The stock ended the day at S$0.63, up 6.5 cents or 11.5 per cent.

In a pre-market opening announcement, Hyflux said the LOI is from the General Authority for the Suez Canal Economic Zone (SCZone) to construct the Ain Sokha integrated water and power project in Egypt. …