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Dubai's Emicool gets $245 mln financing for expansion
August 10, 2014 / 9:02 AM / 3 years ago

Dubai's Emicool gets $245 mln financing for expansion

ABU DHABI, Aug 10 (Reuters) - Dubai-based Emirates District Cooling (Emicool) said on Sunday it had signed a $245 million, 12-year facility with Dubai Islamic Bank to refinance existing debt and fund its expansion.

Emicool, a venture between Dubai Investments and Union Properties, offers cooling services in some areas of the emirate and has an installed capacity of 330,000 tonnes of refrigerant. It did not reveal pricing details of the facility.

The company has said it plans to expand into Saudi Arabia and Qatar in coming years. (Reporting by Stanley Carvalho, Editing by Andrew Torchia)

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