Saudi-based The Diriyah Company has announced a groundbreaking infrastructure agreement with City Cool Cooling Company that will see the development of a district cooling plant and associated distribution network with the ability to deliver a maximum cooling power of 72,500 tons of refrigeration (TR).

 

As per the SAR700-million ($187 million) contract, City Cool will deploy the district cooling plant with an impressive energy efficiency rating of 0.7 KW/TR.

 

The chilled water will supply the cooling demand of all non-residential assets within the first phase of the Diriyah project, it added.

 

With the Unesco World Heritage Site of At Turaif at its core, Diriyah links the kingdom’s past, present and future introducing visitors to the charm and generosity of Najdi culture as well as the symbol of inspiration for generations of creatives, innovators, entrepreneurs, and educators to come.

 

City Cool Cooling Company, a leading district cooling service provider in the region, and a wholly owned subsidiary of Mada International Holding, is the majority shareholder with 90% shareholding in the project.

 

This partnership marks a significant milestone for Diriyah Company’s strategic investment and partnership efforts. 

 

The development agreement comes following a 25-year Build, Own, Operate, and Transfer (BOOT) structure, with the completed infrastructure to be transferred to Diriyah Company after the duration.

 

Diriyah Company GCEO Jerry Inzerillo said: "Our strategic investment efforts in Diriyah Company span diverse sectors, fostering comprehensive solutions that elevate the quality of life for everyone who lives, works, or visits the Birthplace of the Kingdom."

 

"By encouraging a healthier outlook on life, Diriyah Company holds minimizing the development's carbon footprint as a core principle for everything we do, by focusing on energy efficiency, reducing water consumption, and improving the overall quality of life for everyone," he added.

 

City Cool CEO Abdulsalam Al Mobayed said: "It is an honour for us to be part of the Diriyah project, a project that prioritizes environmental responsibility. Our shareholders at City Cool are not only keen but also fully support City Cool delivering a reliable and efficient district cooling solution to meet the escalating demand of cooling capacity needed for giga projects like Diriyah in Saudi Arabia, in complete alignment and support of Vision 2030."

 

Diriyah holds immense importance for contemporary Saudi Arabia, owing to its rich historical and cultural significance. "The partnership with City Cool is one of the largest contracts signed by Diriyah Company," stated Al Mobayed.

 

"The project solidifies Diriyah Company’s commitment as "a dynamic mixed-use developer that is redefining urban planning to transform Diriyah into a thriving capital of culture, entertainment, education, and the arts," he added.-TradeArabia News Service