IFC to assist Tabreed in expanding its operations in India
Company News

IFC to assist Tabreed in expanding its operations in India

The UAE's National Central Cooling Co, commonly known as Tabreed, has formed a joint venture with the World Bank Group's International Finance Corp to extend operations in India through a holding company.

Tabreed India's ownership will be moved to a Singapore-based holding company, with Tabreed retaining a 75% stake and IFC holding the remaining 25%.

Tabreed constructs, owns, and runs cooling infrastructure for real estate developers and other end customers, including data centres, cold chains, and urban skyscrapers.

The two partners will invest an initial $100 million in the new holding company, with a mandate to invest up to $400 million in projects over the following five years, aiming for a portfolio of 100,000 refrigeration tonnes serving industrial, commercial, and retail complexes.

The Burj Khalifa, the Sheikh Zayed Grand Mosque, and the Louvre Abu Dhabi are just a few of the renowned projects Tabreed has worked on.

Perla said the cooperation will help the firm expand its operations in India, allowing it to provide more energy-efficient, end-to-end cooling solutions for real estate expansions, new urban master plans, and redevelopments through outsourced utility models.

IFC and Tabreed have agreed on an investment eligibility criterion that, in addition to traditional financial standards, incorporates a strong environmental, social, and governance framework when establishing district energy projects, according to the business. With capital-intensive infrastructure requirements, project finance will be used to generate debt for particular projects.

The government is increasingly seeing district cooling as a requirement for urban master plans and smart city projects.

Image Source

The UAE's National Central Cooling Co, commonly known as Tabreed, has formed a joint venture with the World Bank Group's International Finance Corp to extend operations in India through a holding company. Tabreed India's ownership will be moved to a Singapore-based holding company, with Tabreed retaining a 75% stake and IFC holding the remaining 25%. Tabreed constructs, owns, and runs cooling infrastructure for real estate developers and other end customers, including data centres, cold chains, and urban skyscrapers. The two partners will invest an initial $100 million in the new holding company, with a mandate to invest up to $400 million in projects over the following five years, aiming for a portfolio of 100,000 refrigeration tonnes serving industrial, commercial, and retail complexes. The Burj Khalifa, the Sheikh Zayed Grand Mosque, and the Louvre Abu Dhabi are just a few of the renowned projects Tabreed has worked on. Perla said the cooperation will help the firm expand its operations in India, allowing it to provide more energy-efficient, end-to-end cooling solutions for real estate expansions, new urban master plans, and redevelopments through outsourced utility models. IFC and Tabreed have agreed on an investment eligibility criterion that, in addition to traditional financial standards, incorporates a strong environmental, social, and governance framework when establishing district energy projects, according to the business. With capital-intensive infrastructure requirements, project finance will be used to generate debt for particular projects. The government is increasingly seeing district cooling as a requirement for urban master plans and smart city projects. Image Source

Next Story
Infrastructure Transport

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

Next Story
Infrastructure Transport

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Next Story
Infrastructure Transport

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?