"PUB requires TPL to fully resolve all defaults within the default notice period, failing which, upon the expiry of the default notice period, PUB will exercise its right to terminate the WPA and take control of the plant."
PUB said that Tuaspring has been unable to fulfil various contractual obligations under the WPA, in particular, by failing to keep the plant reliably operational as required.
"In addition, TPL has not been able to produce financial evidence to demonstrate its ability to keep the plant running for the next six months," said PUB in its release.
"PUB has provided sufficient time for TPL to resolve its operational and financial defaults. Given TPL’s current financial position, TPL’s inability to fulfil its contractual obligations is unlikely to change in the immediate to longer term.
In 2011, PUB signed a 25-year agreement with Tuaspring for Singapore’s second and largest desalination plant - one of the three desalination plants currently in Singapore.
Under the WPA, Tuaspring has to deliver up to 70 million gallons of desalinated water per day to PUB for a 25-year period from 2013 to 2038.
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"PUB requires TPL to fully resolve all defaults within the default notice period, failing which, upon the expiry of the default notice period, PUB will exercise its right to terminate the WPA and take control of the plant."
PUB said that Tuaspring has been unable to fulfil various contractual obligations under the WPA, in particular, by failing to keep the plant reliably operational as required.
"In addition, TPL has not been able to produce financial evidence to demonstrate its ability to keep the plant running for the next six months," said PUB in its release.
"PUB has provided sufficient time for TPL to resolve its operational and financial defaults. Given TPL’s current financial position, TPL’s inability to fulfil its contractual obligations is unlikely to change in the immediate to longer term.
In 2011, PUB signed a 25-year agreement with Tuaspring for Singapore’s second and largest desalination plant - one of the three desalination plants currently in Singapore.
Under the WPA, Tuaspring has to deliver up to 70 million gallons of desalinated water per day to PUB for a 25-year period from 2013 to 2038.
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"PUB requires TPL to fully resolve all defaults within the default notice period, failing which, upon the expiry of the default notice period, PUB will exercise its right to terminate the WPA and take control of the plant."
PUB said that Tuaspring has been unable to fulfil various contractual obligations under the WPA, in particular, by failing to keep the plant reliably operational as required.
"In addition, TPL has not been able to produce financial evidence to demonstrate its ability to keep the plant running for the next six months," said PUB in its release.
"PUB has provided sufficient time for TPL to resolve its operational and financial defaults. Given TPL’s current financial position, TPL’s inability to fulfil its contractual obligations is unlikely to change in the immediate to longer term.
In 2011, PUB signed a 25-year agreement with Tuaspring for Singapore’s second and largest desalination plant - one of the three desalination plants currently in Singapore.
Under the WPA, Tuaspring has to deliver up to 70 million gallons of desalinated water per day to PUB for a 25-year period from 2013 to 2038.
SINGAPORE: National water agency PUB has issued a default notice to Tuaspring Pte Ltd (TPL), a subsidiary of Hyflux, to remedy defaults arising under the Water Purchase Agreement (WPA) between PUB and TPL.
"PUB is taking steps to ensure that our water security is safeguarded," it said in a release on Tuesday (Mar 5).
"PUB requires TPL to fully resolve all defaults within the default notice period, failing which, upon the expiry of the default notice period, PUB will exercise its right to terminate the WPA and take control of the plant."
PUB said that Tuaspring has been unable to fulfil various contractual obligations under the WPA, in particular, by failing to keep the plant reliably operational as required.
"In addition, TPL has not been able to produce financial evidence to demonstrate its ability to keep the plant running for the next six months," said PUB in its release.
"PUB has provided sufficient time for TPL to resolve its operational and financial defaults. Given TPL’s current financial position, TPL’s inability to fulfil its contractual obligations is unlikely to change in the immediate to longer term.
In 2011, PUB signed a 25-year agreement with Tuaspring for Singapore’s second and largest desalination plant - one of the three desalination plants currently in Singapore.
Under the WPA, Tuaspring has to deliver up to 70 million gallons of desalinated water per day to PUB for a 25-year period from 2013 to 2038.
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