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11-07-14
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.
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