Tabreed signs $83m contract

The National Central Cooling Company, better known as Tabreed, has signed a Dh 306.4M (USD 83.43M) agreement with developer Egyptians for Healthcare Services (EHCS) to provide district energy services to CapitalMed, its new healthcare city project.
The move is part of the company’s plans to expand its presence in Egypt, Tabreed recently said in a filing to the Dubai Financial Market, where its shares are traded.
Under the long-term concession agreement, Tabreed will fund, construct and operate a bespoke district energy plant to meet the cooling and heating demands for CapitalMed, with 19,500 refrigeration tonnes (RT) of cooling required for the first phase and a concession of between 28,000 RT and 30,000 RT for the entire development.
Earlier this year, Tabreed collaborated with the Egyptian Company for Energy and Cooling projects and Marakez for Real Estate Investment Company to provide district cooling services to the new District Five Mall in east Cairo.
As part of its regional expansion, Tabreed also plans to enter new markets in North Africa and Kuwait, it said in June.
The company owns and operates 86 district cooling plants across the GCC, including 75 in the UAE, three in Saudi Arabia, seven in Oman, and one in Bahrain, in addition to other international projects and operations.
CapitalMed will be constructed over four phases. In the initial phase, 7,500 RT of capacity will be installed, 12 megawatts of space heating will be provided by hot water boilers and associated energy services will be supplied to all buildings, providing a full, end-to-end long-term solution, the bourse filing said.
Previous articleTAQA Arabia, Saudi Natural Gas Distribution Co.sign MoU
Next articleSulphur recovery unit commissioned at CPCL refinery