Hyflux said its wholly-owned unit Tianjin Dagang Newspring Co Ltd (TDN) has successfully restructured a 617 million yuan (S$121.3 million) Bank of China loan.

The loan’s maturity date has been extended by three years to 2026, with the repayment schedule adjusted for lower annual repayments.

The loan is for TDN’s 100,000 cubic metre per day seawater desalination plant in Dagang City, Tianjin Province, and is guaranteed by Hyflux.