Cooling contract worth $187mn awarded for Diriyah
The new district cooling plant will be a significant milestone in the giga-project’s evolution and delivery
The Diriyah Company has announced a major infrastructure agreement with City Cool Cooling Company, which will see the development of a district cooling plant with the ability to deliver up to 72,500 Tons of Refrigeration (TR).
As per the US $187mn contract, City Cool will design the cooling plant to operate with an energy efficiency rating of 0.7KW/TR. The chilled water will supply the cooling demand of all non-residential assets within the first phase of the Diriyah project.
City Cool Cooling Company, a wholly owned subsidiary of Mada International Holding, is the majority shareholder in the Diriyah cooling project, with a 90% shareholding.
The partnership marks a significant milestone for Diriyah Company’s strategic investment and partnership efforts. The development agreement comes following a 25-year Build, Own, Operate, and Transfer (BOOT) arrangement, with the completed infrastructure to be transferred to Diriyah Company after the duration.
Diriyah Company GCEO, Jerry Inzerillo said, “Our strategic investment efforts in Diriyah Company span diverse sectors, fostering comprehensive solutions that elevate the quality of life for everyone who lives, works, or visits the Birthplace of the Kingdom. By encouraging a healthier outlook on life, Diriyah Company holds minimising the development’s carbon footprint as a core principle for everything we do, by focusing on energy efficiency, reducing water consumption, and improving the overall quality of life for everyone.”
City Cool CEO, Abdulsalam Al Mobayed added, “It is an honour for us to be part of the Diriyah project, a project that prioritises environmental responsibility. Our shareholders at City Cool are not only keen but also fully support City Cool delivering a reliable and efficient district cooling solution to meet the escalating demand of cooling capacity needed for giga projects like Diriyah in Saudi Arabia, in complete alignment and support of Vision 2030.”
