ABU DHABI (Reuters) – United Arab Emirates-based utility firm Utico has submitted an offer for a binding agreement to invest in Singapore’s Hyflux Ltd, Utico’s chief executive said on Sunday.

Utico will also provide working capital and any urgent interim funding to Hyflux as part of the offer, Richard Menezes said.

Earlier this month, Utico submitted a non-binding letter of intent to invest in Hyflux.

Reporting By Stanley Carvalho, editing by Elaine Hardcastle

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