PRIDE BEFORE FALL
- From: Vol 7, Issue 3 (March 2006)
- Category: Need to know
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Hyflux, Istithmar and Palm Water
* Hyflux has been removed from its Palm Water joint venture and at the same time issued notice that its Hyflux Middle East LLC subsidiary is to be dissolved.
Palm Water has a DBOO contract for two 32,000m3/d SWRO plants now being built for the Palm development in Dubai. The Dubai government investment vehicle Istithmar will buy back Hyflux’s shares in Palm Water increasing its shareholding to 95% in the process. In a statement, Hyflux said it will continue to supply its UF membrane systems ...
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