Friday, 23 March 2018 04:38 GMT

UAE's Tabreed wins USD285m concession

(MENAFN) The UAE's Tabreed has recently won a concession to provide district cooling services in Abu Dhabi worth USD285.9 million, the firm said yesterday, according to Gulf Daily News.

Under the 30-year contract, Tabreed will be buying the existing district cooling provider to Al Maryah Island in Abu Dhabi and will be funded through a combination of equity and a 20-year loan, Tabreed said in a statement on Dubai's bourse.

Tabreed's consortium includes Mubadala Infrastructure Partners, an affiliate of Abu Dhabi state-owned investment fund Mubadala.

Mubadala holds a 14.3 percent stake in Tabreed, according to Thomson Reuters data.

UAE's Tabreed wins USD285m concession

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