The financial package was arranged by DBS Bank Ltd, Mizuho Corporate Bank Ltd and Sumitomo Mitsui Banking Corp.
Hyflux says that it is on track to securing financing for the power plant facility that will be installed at the site.
The Engineering Procurement and Construction works for the Tuaspring Plant desalination facility will be undertaken by a wholly owned subsidiary of Hyflux. Construction is expected to be completed within 24 months from the notice to proceed.