Tabreed expanding through Qatari affiliate

26/05/2014 06:21 AST

Dubai-listed National Central Cooling Company (Tabreed) is expanding its Gulf operations through a Qatari affiliate company.

Tabreed announced on Sunday that Qatar District Cooling Company (Qatar Cool) has signed a construction contract for a fourth district cooling plant in Qatar.

The plant is scheduled to be delivered in 2016 and will provide cooling to residential and commercial towers in the West Bay development in Doha.

The value of the project was not revealed. Tabreed could not be reached for comment.

Qatar Cool is a joint venture company owned by United Development Company, Tabreed and other private Qatari investors, according to Tabreed’s website.

“Qatar is a significant market for Tabreed as we look to continue to strengthen our regional footprint. For several years now, our affiliate, Qatar Cool, has been leading the way in Qatar’s district cooling market and has cemented its position as the main supplier of energy-efficient, economical and environmentally-friendlier cooling solutions,” stated Jasem Hussain Thabet, Tabreed’s chief executive officer.

Tabreed, which is partly owned by Abu Dhabi government investment vehicle Mubadala, has a 44 per cent stake in Qatar Cool.

Tabreed shares closed 0.51 per cent higher to Dh1.97 on Thursday.

Markets were closed on Sunday due to the public holiday.


Gulf News

News

Abu Dhabi cooling firm now fully owned by Tabreed

15/03/2018

National Central Cooling Company (Tabreed) has acquired the remaining 50 per cent of the shares in S&T Cool District Cooling Company, a major district cooling provider on Reem Island in Abu Dhabi, UA

Trade Arabia

Tabreed acquires 50% of Reem Island district cooling plant

14/03/2018

National Central Cooling Company (Tabreed), on Tuesday announced the acquisition from Aldar Properties of 50 per cent shareholding in S&T Cool District Cooling Company on Reem Island in Abu Dhabi for

Gulf News

Tabreed seeks assets from Gulf to Egypt: CEO

02/02/2018

National Central Cooling Co. plans to acquire assets in markets like Saudi Arabia and Egypt starting this year as the Abu Dhabi-based company seeks to expand.

“We’re always keen on acquisiti

Gulf News

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

TABREED Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
AMANAT 1.36 0.01 (0.74%)
BATELCO 0.21 0.00 (0.00%)
ADNH 2.80 0.00 (0.00%)
NCTH 2.15 0.00 (0.00%)
GMPC 1.90 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap