Waste-to-Energy Company in Singapore Made a Wholly-Owned Subsidiary
2022-08-09
Tokyo, August 8, 2022 – Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. (MHIEC), part of MHI Group, have made a wholly-owned subsidiary of TuasOne Pte. Ltd., a special purpose company (SPC) for the business of the construction and operations of a waste-to-energy (WTE) facility in Singapore. Following the start of liquidation of Hyflux Ltd., a major water treatment and supply company in Singapore that held 75% of the issued shares in TuasOne, MHI and MHIEC jointly agreed with Hyflux to additionally acquire the shares of TuasOne held by Hyflux(Note1) to continue its business.
