RIYADH: Emirates Central Cooling Systems Corporation (Empower) has agreed to buy the district cooling systems of Dubai International Airport, for AED1.1 billion ($299.4 million), WAM reported.
The acquisition was carried out through a combination of cash from company reserves and debt financing from local and international banks.
Empower, the world’s largest district cooling services provider, will own and manage all the existing relevant infrastructure at Dubai International Airport, which has a cooling capacity of 110,000 refrigeration tonnes, 11 times the capacity of Burj Khalifa, the world's tallest tower.
"The deal is a part of the AED25 billion public-private partnership portfolio announced by Dubai's Department of Finance at the Dubai International PPP Conference, which was held last month at Expo 2020," said the chairman of Dubai Airports, Sheikh Ahmed bin Saeed Al Maktoum.
