Cooling firm Tabreed wins $1.6bn contract from UAE Armed Forces

June 03, 2014 - 10:44:51 am

ABU DHABI: Dubai-listed National Central Cooling Company (Tabreed) on Tuesday said it had won a 6 billion dirhams or $1.63 billion contract from the United Arab Emirates armed forces to supply cooling services for 20 years.

The news boosted Tabreed's share price, which was 9.9 percent higher at 0630 GMT.

The new contract is a renewal of the master services agreement with the military, Tabreed said in a statement.

Tabreed's first district cooling plant was commissioned by the UAE armed forces in 1998 to service their facilities in Abu Dhabi. (Reuters)