UAE-based National Central Cooling Company, better known as Tabreed, on Wednesday announced it has completed the signing of an AED192.5 million ($52.4 million) loan with Emirates NBD for the district cooling plant it is developing for Dubai Parks and Resorts.

The district cooling utility infrastructure company said the plant which will cool Dubai's upcoming theme park resort is now nearing completion and will be commissioned in time for the park's opening in October next year.
Jasim Husain Thabet, Tabreed's CEO, said: "This loan facility with Emirates NBD is a landmark deal as it is among the first district cooling transactions completed in the UAE under a limited recourse project finance structure for a Greenfield development.

"We are committed to delivering district cooling services that enable Dubai Parks and Resorts to make significant savings to their energy consumption and positively contribute to the environment."
In 2014, Tabreed signed a long term concession to provide 45,600 tons of cooling to the new Dubai Parks and Resorts development in Jebel Ali.

In addition to Dubai Parks and Resorts, Tabreed provides its district cooling services to many of the region's iconic developments including all the projects on Abu Dhabi's Al Maryah Island and Yas Island as well as other landmarks such as Sheikh Zayed Grand Mosque, Dubai Metro, the Pearl - Qatar, and the Jabal Omar Development Project in the Holy City of Makkah.