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Structure change in Hyflux's Egypt contract
WATER treatment specialist Hyflux is set to take on the Ain Sokhna Integrated Water and Power Project in Egypt on a build operate and transfer (BOT) or build operate and own (BOO) basis on request from the General Authority for Suez Canal Economic Zone (SCZone).
Hyflux said after trading hours on Monday, the authority in charge in Egypt has requested the project to be developed under BOT/BOO structure instead of under the EPC (engineering, procurement and construction) contract announced last year.
The water treatment specialist said it has identified partners to develop this project and will continue to discuss the investment terms with SCZone.
The US$500 million EPC contract award for the Ain Sokhna project to Hyflux was formalised last April. The company said then it will also take on the operation and maintenance of the facilities over a 25-year period.