EMPOWER NEWS

Empower finalizes deals involving Dubai projects

March 2nd, 2005

A series of large deals involving projects in Dubai is being finalized by the Emirates Central Cooling Systems Corporation, company officials said. 
 
Although the company is just over a year old, Emirates Central Cooling Systems Corporation (Empower) has started work on three projects involving about 205,000 tonnes of cooling capacity, said Ahmad Bin Shafar, chief executive of Empower.
 
Empower is a Dubai Holding entity. The deals are expected to boost the size of Empower’s investments to Dh2 billion over the next five years.
 
“The first project is our Jumeirah Beach Residence project. It will require 60,000 tonnes of cooling capacity. This project is expected to be ready by the end of 2005. The second project is the Dubai International Financial Centre. It requires 90.000 tonnes. This will be ready by the end of 2006. The third project is Dubai Healthcare City. It requires 55,000 tonnes. This project will be divided into several phases,” Bin Shafar said. “We are about to finalize new agreements to provide cooling systems for a number of projects for a combined 150,000 tonnes,” Bin Shafar said.
 
Critical Support

“The support of General Shaikh Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defense, is crucial to the success of the Company,” Bin Shafar said.
 
“Empower will need ten years to fully supply Dubai with cooling systems. Once ongoing negotiations are over and contracts are signed, Empower will emerge as one of the world’s major cooling systems providers,” Bin Shafar said.
 
The company will offer district cooling systems which allow central plants to cool water and distribute it through a network of pipelines to individual customer buildings, company officials said.


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