City Cool wins $172m KAEC deal
Manama, June 25, 2008
City Cool, a leading UAE-based district cooling provider, has signed a $172 million agreement with Emaar The Economic City (Emaar E.C.) to provide district cooling infrastructure for its Bay La Sun development in Saudi Arabia.
The Bay La Sun development, which is the first integrated village within King Abdullah Economic City, will be supplied with 67,000 tons of refrigeration, with future expansion of up to 80,000 tons, from two district cooling plants to ensure that the cooling requirements of residents are consistently and qualitatively met, said a statement.
City Cool is a subsidiary of Al Rajhi Investment Group.
The scope of work also encompasses of two thermal storage tanks, a 15,000 sq m per day desalination plant, using the latest R O technology as well as around 20 km of pre-insulated steel or HDPE (High Density Poly-Ethylene) piping network and 25 Energy Transfer Stations (ETS) to be strategically positioned within the development.
Fahad bin Abdul Al Mosen Al Rashid, chief executive officer, Emaar the Economic City, said: “We were looking for a partner who could provide us with stable, reliable and eco-friendly District Cooling solutions to service this major venture of ours in Saudi Arabia. City Cool was the obvious choice given their creditable track record in commissioning large projects in the Middle East. Besides, they also share our vision to build a greener, safer and healthier environment through sustainable building solutions.”
Commenting on the deal, Ibrahim Al Rajhi, chairman, City Cool, said: “We are delighted to be awarded the contract. With our proven technical expertise in providing district cooling solutions, we are confident we can design and deliver a state-of-the-art system which can meet the requirements of this turnkey project, while ensuring its best life cycle value. The District Cooling system that we will implement for the Bay La Sun community will not only be environmentally-friendly, but will allow for significant energy savings by reducing the consumption of electricity more than 40 per cent.” – TradeArabia News Service