Tabreed, UAE’s district cooling provider, signed an agreement with Egyptians for Healthcare Services (EHCS), to provide essential district energy services to CapitalMed, a new healthcare megaproject city.
The agreement is with a capital investment of EGP 1.6 billion, which accounts for almost $83.4 million. This comes as a part of the company’s expansion plans to Egypt.
Tabreed is to fund, construct and operate a bespoke district energy plant, designed in conjunction with Shaker Consultancy, to meet the cooling and heating demands for this project. 19,500 Refrigeration Tons (RT) of cooling are required for the first phase and up to 30,000 RT for the entire project.
“Tabreed only entered the Egypt market in February this year, following the announcement of our project at Cairo’s new D5M mall. I said then that commencing operations in Egypt were an important strategic move that’s part of our long-term plans for sustainable growth beyond our traditional geographic borders, and this new signing with EHCS shows how committed Tabreed is when it comes to expansion,” Khalid Abdulla Al Marzooqi, Tabreed’s Chief Executive Officer, said.
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