The Saudi unit of Dubai-listed refrigeration and cooling company Tabreed has won a $480 million contract to build a central cooling station for Saudi Aramco, a newspaper reported on Tuesday.

Saudi Tabreed -- a Saudi private sector joint venture company with Tabreed, also known as the National Cooling Co --  expects to complete the project in the first quarter of 2012, pan-Arab daily Asharq al-Awsat reported on its website.

The project at Aramco's headquarters in Dhahran is being financed by Banque Saudi Fransi, the newspaper said. – Reuters