District cooling plant will serve the Jabal Omar development in Makkah
Tabreed has agreed to develop a $150mn plant in the Holy City of Makkah, Saudi Arabia, it announced on Tuesday.
The National Central Cooling Company (Tabreed), the Abu Dhabi-based district cooling utility company, has announced an additional investment into its Saudi Arabian affiliate, Saudi Tabreed.
This investment will be for the development of a district cooling project that will serve the Jabal Omar development in the Holy City of Makkah.
Waleed Al Mokarrab Al Muhairi, chairman of Tabreed, said: “We are delighted to be investing alongside our partners at Saudi Tabreed in such a landmark development in the Kingdom of Saudi Arabia.
The approved investment relates to the development and construction of the first two phases of the district cooling plant. Saudi Tabreed, which is 25% owned by Tabreed, is partnering with the Saudi-based Jabal Omar Development Company (JODC) to develop the 55,000RT project.
The 20 year Build-Own-Operate-Transfer agreement will be completed by a special purpose vehicle named Central District Cooling Company (CDCC), which is 60% owned by Saudi Tabreed and 40% owned by JODC .
Jasim Thabet, chief executive officer of Tabreed, said: “The Jabal Omar project is one of the key infrastructure projects in Saudi Arabia and is intended to cater to Mecca’s expanding population.