Murray & Roberts: Water deal with Hyflux finalised

Murray & Roberts (M&R) has signalled its intention to target water treatment opportunities in sub-Saharan Africa with its finalisation of a memorandum of agreement with Hyflux, the global fully-integrated water solutions company. Frank Saieva, an executive director at M&R, said yesterday that the group was excited about its partnership with Hyflux because it provided both companies with an opportunity to participate in significant water treatment projects. Olivia Lum, the Hyflux group chief executive, said the deal paved the way for the companies to use each other’s experience. M&R shares gained 1.27 percent to close at R24.75 yesterday. – Roy Cokayne