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Tue 3 Jun 2014 01:34 PM

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Cooling firm wins $1.6bn contract from UAE armed forces

National Central Cooling Company wins renewal of master services agreement with the military

Cooling firm wins $1.6bn contract from UAE armed forces

Dubai-listed National Central Cooling Company (Tabreed) on Tuesday said it had won a AED6 billion ($1.63 billion) contract from the UAE 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.

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