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11-08-14
UAE Emicool signs USD245m deal with DIB
(MENAFN) Emirates District Cooling LLC (Emicool) has signed a USD245 million 12-year facility deal with Dubai Islamic Bank (DIB), which will help the company refinance its debts and its expansion plans, Arab News reported.
Emicool, which provides district cooling services for the region, is looking to expand its operation to Saudi Arabia and Qatar.
The company is currently providing continuous chilled water cooling services to over 15,000 customers in Dubai and is hoping to extend its services geographically as well as enhance their technological excellence.
"There is a huge potential for growth in the district cooling industry, and as one of the major players, we are looking at investing in infrastructure, which will assist to offer quality products to capture a significant share of the market," Emicool's CEO said.
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