Tabreed considers Egypt expansion

Abu Dhabi’s National Central Cooling Co. (Tabreed) plans to acquire assets in markets like Saudi Arabia and Egypt starting this year, CEO Jasim Husain Thabet told Bloomberg TV. Tabreed would seek to use project financing to fund the acquisitions while contributing about 20-25% of the transaction value from its own cash, Thabet says. Bloomberg estimates that Tabreed could be targeting assets valued at around USD 1 bn as Thabet says the company has about USD 299 mn in cash.