Hyflux explores opportunities in Nigeria through Joint venture
Published on by Water Network Research, Official research team of The Water Network in Business
Hyflux Ltd (Hyflux), through its wholly-owned subsidiary,Hyflux International Pte Ltd. (HIPL), has inked a joint venture agreement with TolaramCorporation Pte Ltd (Tolaram) to explore opportunities for the development ofmembrane-based water treatment plants in Nigeria.
A Singapore-registered company called Yewa Water Company Pte Ltd has beenset upas a result of the joint venture agreement. HIPL and Tolaram will hold equal equitystakes in this joint venture company.
Yewa Water Company Pte Ltd, in turn, owns the majority stake in Yewa WaterCompany Limited, a company incorporated in Nigeria and that will be used to undertakewater projects in the country.Tolaram is a Singapore-based multi-industry company engaged in food, paper andpackaging, textiles, energy, logistics and real estate businesses. Its business interestsspan Singapore, India, Indonesia, Nigeria, Estonia and Ghana. In Nigeria, Tolaram isinvolved in the distribution of food products and provision of logistics services, as wellas development of infrastructure projects.
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