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Hyflux suspends contract for desalination package in Iran
Company says it is unable to maintain the banking support to receive payment for works to be performed under the contract
Add BT as a preferred sourcePublished Fri, Dec 14, 2018 · 09:50 PM
Singapore
HYFLUX has suspended a contract for a seawater reverse osmosis desalination package in Iran, which the company said on Friday is expected to have a material adverse effect on its financial performance.
The contract was signed in April between Hyflux subsidiary Hyflux International and Iran's Asia Water Development Engineering Company (AWDEC) for a seawater reverse osmosis desalination package in Bandar Abbas, Iran. In July, AWDEC indicated - through a letter of intent - for a second contract for the project.
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