Hyflux

"HYFLUX on Tuesday announced that its subsidiary has been released and discharged from all rights, duties, obligations, claims and demands under a contract for a desalination package in Iran. Under the contract, the subsidiary, Hyflux International Pte Ltd (HIPL), was to design, manufacture and supply a seawater reverse osmosis desalination package in Bandar Abbas, Iran. Iranian firm Asia Water Development Engineering Company (AWDEC) had awarded the project to HIPL in April 2018. However, it was suspended in October 2018, after the US reintroduced sanctions on Iran and pulled out of the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action." (The Business Times, 11/27/2019).

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"Hyflux has received a letter of intent (LoI) for the award of a second contract from Asia Water Development Engineering Company (AWDEC) for a seawater reverse osmosis desalination package at Bandar Abbas, Iran. The announcement follows the $110.7 million contract awarded by AWDEC in April this year for a similar project at the same location, which Hyflux says AWDEC is pleased with thus far based on the project’s first phase of progress." (The Edge, "Hyflux wins second contract for Iran desalination project despite restructuring," 7/11/2018.)