Hyflux Singapore firm to build Desal Plant in Egypt

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Hyflux Singapore firm to build Desal Plant in Egypt

Singaporean firm Hyflux, to build $500m desalination plant in Egypt

Hyflux Ltd (Hyflux or The Group) is pleased to announce that it has been given a letter of intent for a contract by the General Authority for the Suez Canal Economic Zone (SCZone) to construct the Ain Sokhna Integrated Water and Power Project in Egypt.

This letter of intent will be followed by signing of relevant contracts. The desalination plant is designed to produce 150,000 cubic metres of water per day. An on-site 457 MW combined cycle gas turbine power plant will be constructed to generate power and supply electricity to the desalination plant.

Excess power will be dispatched to the grid and go towards supplying the Egyptian’s governorates needs.

The total value of the engineering, procurement and construction (EPC) contract is US$500 million, with construction slated to commence following finalisation of contract terms. A 25 years operation and maintenance contract will be awarded to Hyflux for this plant.

“The entry into the Egyptian market presents exciting opportunities for Hyflux. We are delighted to be awarded the project and honoured to be given this opportunity to work with SCZone. This project is significant to us because it is our first integrated water and power project abroad and demonstrates our ability to put together an innovative solution that is recognised internationally,” said Ms Olivia Lum, Executive Chairman and Group CEO of Hyflux.

This project is expected to have a material financial impact on Hyflux for the financial year ending 31 December 2016 subject to the signing of the relevant contracts.

Source: www.hyflux.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.