IDB Infrastructure Fund II invests in Saudi Tabreed

03 May 2018

Saudi Tabreed District Cooling Company (“Saudi Tabreed” or the “Company”), the leading district cooling scheme developer in the Kingdom of Saudi Arabia, announced today the acquisition by the IDB Infrastructure Fund II (the “Fund”) of a significant minority stake in Saudi Tabreed.

The sponsors of the Fund are the Islamic Development Bank (“IDB”), the Public Investment Fund of the Kingdom of Saudi Arabia (“PIF”), the Public Pension Agency of the Kingdom of Saudi Arabia (“PPA”), the Ministry of Finance of the Kingdom of Bahrain and the Ministry of Finance of the Sultanate of Brunei Darussalam. The Fund invests in infrastructure sectors across the 57 member countries of the IDB and the member countries of the Association of South East Asian Nations (“ASEAN”).

The Company Chairman Mr. Mohammed Abunayyan said, “The Fund’s interest in Saudi Tabreed is a strong endorsement of Saudi Tabreed’s leadership and its leading market position. He further emphasized that the inclusion of the Fund in the shareholder base is of strategic importance and the investment will contribute towards the next phase of our ambitious growth plans with main emphasis on the value adds of district cooling scheme outsourcing under long term concessions from the government perspective following the vision 2030.”

Saudi Tabreed is the leading provider of environmentally friendly district cooling solutions in the Kingdom of Saudi Arabia. The Company currently has a contracted capacity of 349,000 tons of refrigeration. The company currently operates district cooling plants in Saudi Aramco, Jabal Omar Development, King Khalid International Airport, King Abdullah Financial District, Al Ra’idah Digital City and Qurayyah Independent Power Plant. Its shareholders include ACWA Holding, National Central Cooling Company (Tabreed UfeaAE), Almutlaq Group and LAMA Holding.

Signing LOI – King Faisal Specialist Hospital & Research Center (KFSH & RC)

25 November 2016

Saudi Tabreed signed an agreement of Intent on November 25th 2016 with King Faisal Specialist Hospital in Jeddah for the development of 62,000 TR District Cooling System. The project comprises of taking-over and expanding the existing plant capacity to 37,000 TR in phase one, and building an additional plant of 25,000 TR capacity in phase two based on 30 years concession under BOOT framework.

Signing LOI – King Fahd University of Petroleum & Minerals (KFUPM) - Business Park

20 November 2016

Saudi Tabreed signed an agreement of Intent on November 20th 2016 with Dhahran Techno Valley to provide district cooling services for King Fahd University of Petroleum & Minerals (KFUPM) Business Park in Dhahran for a load of 15,000 TR for first phase based on 30 years concession under BOOT framework.

5th Annual Climate Control Awards

24 November 2015

Saudi Tabreed was awarded the District Cooling Utility Provider of the Year 2015, via ST Aramco District Cooling Scheme. The ceremony was held yesterday evening the 23rd of November in Dubai.

Keeping Cool - FORBES Middle East Magazine

25 September 2015

Saudi Tabreed CEO, Kamal Pharran was interviewed by FORBES Middle East Magazine highlighting ST success stories during the last 5 years and how District Cooling being an energy efficient and environmental friendly Solution.

25 most powerful executives in the Development and Construction of Mega Projects

01 September 2015

Saudi Tabreed CEO, Kamal Pharran was ranked 14th from 25 most powerful executives in the Development and Construction of mega projects in the Kingdom of Saudi Arabia according to Construction Week Magazine – Power 25 ( Page # 31). Published in Sept. 2015.

Utilities Middle East Magazine - District Cooling Special Edition

01 July 2015

Kamal Pharran, CEO of ST, talks about the company achievements and Company plans to make DC the market leading cooling solution in Saudi Arabia

Exclusivity Agreement - Al Diriyah Festival city

01 July 2015

Saudi Tabreed has signed exclusivity MoU with the Developer and now preparing the concept design. The Projects is a mixed used development with IKEA store being one the main project components in addition to a large shopping mall and 15 story hotel. The project is in the exclusive district of Addriyah in Riyadh overlooking the UNISCO protected site of Wadi Hanifa. and the expected Cooling load is 15,000 TR

Concession Agreement with King Khaled International airport - District cooling Plant (KKIA DCP)

01 May 2015

Saudi Tabreed and General Authority of Civil Aviation (GACA) signed a Concession agreement where an existing DC plant (15,000 TR) is acquired by ST. in parallel ST would design, construct, own, operate and maintain a DC plant (20,000 TR) to supply cooling services to King Khaled Airport, Riyadh. And further expand it to a total capacity of 35,000 Ton, On BOOT basis for 32 years from date of award.

Project Status

  1. Existing 15,000 TR plant taken-over by ST under short-term O&M arrangement until Concession execution.
  2. Concession Agreement finalized with GACA. Project award in May. 2015
  3. EPC will be under SNC Lavalin, and the O&M by Saudi Tabreed O&M Company (STOM).

DCP Expansion - ARAMCO

01 December 2014

Building upon the success of ARAMCO’s BOO DC scheme; ARAMCO request Saudi Tabreed to further expand its existing DC Plant by 5,000 Ton.

This agreement amendment for the additional 5,000 TR signed in Dec 2014 between ARAMCO and ST; the new plant modification is currently under construction and the expected COD is in Mar 2016.

The full plant capacity (32,000 TR) consists of 25,000 Tons form Centrifugal Chillers and 7,000 Ton form TES.

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