Tabreed partner in Qatar signs two deals
Regional expansion plans for Tabreed, a leading district cooling service provider across the region, have gained impetus with Tabreed’s partner Qatar District Cooling Company (Qatar Cool) recently signing agreements with Commercialbank and the Al Fardan Twin Towers.
The two plants will be located in Doha’s West Bay area. Qatar Cool’s announcements complement Tabreed’s expansion plans in Bahrain and Saudi Arabia, where it is close to finalizing joint ventures.
Commenting on the expansion plans, Dany Safi, CEO Tabreed said, “Tabreed Saudi is initially being set up as a private shareholding company with a view to going public later. This is going to be a significant market for us and we are anticipating a total installed capacity of 250,000 tons in the next 5 years. We are also pursuing joint venture opportunities in Kuwait and Oman.”
Qatar Cool’s District Cooling Scheme in West Bay will be the result of a QR300 million investment program over the next few years. It will be capable of supplying more than 42,000 refrigerating tons of cooling, enough to meet the cooling requirements of 50 typical office buildings. Further schemes are planned for the future and it is estimated that over QR1 billion will be invested in developing district cooling schemes for Qatar over the next five years. (menareport.com)
© 2004 Mena Report (www.menareport.com)