Tabreed signs Dh6b district cooling contract with UAE Armed Forces

To supply it with district cooling services for the next 20 years

03/06/2014 06:50 AST

National Central Cooling Company, Tabreed, yesterday said it has signed a Dh6 billion contract with the United Arab Emirates Armed Forces (UAEAF) to supply it with district cooling services for the next 20 years.

The move marks the renewal of Tabreed’s master services agreement (MSA) with the UAE Armed Forces, Tabreed said in a statement.

It added that under the new agreement, which builds upon the MSA signed between the two entities in 2000, Tabreed will continue to supply the UAEAF’s existing and prospective facilities with district cooling services for the next 20 years. Additionally, new projects are currently under discussion between Tabreed and the UAEAF.

Jasim Husain Thabet, Tabreed’s chief executive, said the UAE Armed Forces have been a key supporter of Tabreed since the company’s inception 15 years ago. “This long-term collaboration is a clear endorsement of the energy, environmental and economic benefits of Tabreed’s district cooling services,” he pointed out.

Tabreed’s first district cooling plant was commissioned by the UAEAF in 1998 to service their facilities in Abu Dhabi.

Shares in the Dubai-listed company rose as much as 11 per cent to Dh2.25 on Tuesday before closing 6.4 per cent higher at Dh2.15.


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