The Ondeo group of France has exited a S$250mil Singapore water desalination project consortium by selling its 30% stake to local joint-venture partner Hyflux Ltd. As a result, water treatment systems maker Hyflux now owns 100% of the project consortium, SingSpring Pte Ltd.
“We believe that Ondeo’s decision is the result of its corporate financial restructuring,” Olivia Lum, Hyflux’s chief executive officer and president, said in a statement. “Ondeo’s departure will have no significant impact on SingSpring’s operations.”