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Mon 27 Sep 2010 07:55 PM

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Saudi's ACWA to bid for $453m worth cooling projects

Firm's CEO and president thinks that one of the projects will happen this year.

Saudi's ACWA to bid for $453m worth cooling projects
PROJECT BIDS: Saudi Arabias ACWA Holdings will bid for four district cooling projects in the Kingdom, including in the Knowledge Economic City in Media. (Getty Images)

Saudi Arabia's ACWA Holdings will bid for four district cooling projects in the kingdom worth 1.7 billion riyals ($453.3 million), an executive said on Monday.

Speaking to reporters at a Middle East Economic Digest (MEED) conference in Abu Dhabi, Rasheed Al Rasheed, chief executive and president, ACWA Holdings, said: "I think one of them will happen this year."

The firm is bidding for a project in Jeddah Corniche, a project in Knowledge Economic City in Medina, a petchem project in Jubail and a project in Mecca, he said.

Earlier on Monday, the chief executive of cooling firm Tabreed's Saudi unit said it is bidding for a 55,000 tonne project by Jebel Omar Development Co. (Reuters)

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