O&M support to KSA’s King Abdullah Financial District major operational milestone.
O&M support to KSA’s King Abdullah Financial District major operational milestone
National Central Cooling Company PJSC (Tabreed), the Abu Dhabi-based district cooling utility company, released its consolidated third quarter (Q3) 2013 financial results on October 4, in which it has revealed an increase in its net profit, new customer connections, improved operating efficiencies and lower finance costs, that, it claims continue to drive the company’s strong financial performance.
The company gave the following financial highlights – nine months ended 30 September 2013:
Operational highlights – nine months ended 30 September 2013:
In light of this, Waleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “Tabreed’s strategy to drive growth through our core chilled water business continues to deliver strong results. Looking ahead, we remain optimistic that chilled water demand will continue to increase across the region, and look forward to working closely with our clients to implement energy-efficient cooling solutions that enable our region’s sustainable development.”
Jasim Husain Thabet, Tabreed’s CEO, added: “The combination of revenue growth in our chilled water business and lower financing costs resulted in a strong improvement in profit for the period. The commencement of O&M support to the King Abdullah Financial District in Saudi Arabia was a major operational milestone. Today, we deliver approximately 830,000 RT of critical district cooling services in five countries throughout the GCC, making us the region’s preeminent district cooling provider.”
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