UAE’s Tabreed Wins District Cooling Bid for Pharma City in Hyderabad
National Central Cooling Company (Tabreed) has announced its selection as the preferred bidder for a long-term district cooling concession for the Hyderabad Pharma City master plan by the Telangana State Industrial Infrastructure Corporation (TSIIC).
The initial phase of the project involves constructing district cooling facilities with a capacity of 2,500 refrigeration tons (RT), estimated at AED 36.2 million ($9.85 million). Future expansions will be carried out in phases to meet the growing cooling demand, with a projected total concession load of 125,000 RT.
The project financing will comprise 75 percent from local financing and 25 percent from equity funding, aligned with construction milestones. Additional cooling infrastructure in the future will require new investments.
Tabreed’s collaboration with TATA Realty marks its first district cooling project in India. The new assets to be developed will contribute to Tabreed’s expansion plans in India, with no significant impact expected on its existing operations or shareholder rights.
The agreement is anticipated to be finalized by the fourth quarter of 2023, followed by the commencement of construction work.
Established in 1998 with its inaugural district cooling plant in Sweihan, Abu Dhabi, Tabreed currently operates 86 plants across the GCC.
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