Pilot desalination JV
PG Seraya Investment Pte Ltd., AquaGen International (AIPL) and STSE Engineering Services Pte Ltd. have signed a joint venture agreement for the development and commercialization of water desalination technology featuring advanced evaporation technology.
The three companies will invest in a newly incorporated company that will build a pilot plant aimed at testing the innovative Multi-Effect Distillation (MED) technology in a large-scale sea water desalination application. Construction of the pilot plant is expected to begin by the end of 1999. It will have a capacity of 5000 t of water per day. The main feature of MED is that fewer tubes and less heat energy are therefore required for desalination.
Under the agreement, Seraya Investment, a unit of Singapore Power, has acquired a 42 per cent stake in AIPL for $12.5m. STSE Engineering, a subsidiary of Singapore Technologies Marine Ltd., already owns a 25 per cent stake in AIPL.