Palm District Cooling Awards AED191m Contract to Shinryo of Japan for Palm Jumeirah

Dubai, United Arab Emirates, August 23, 2006 --(PR.com)-- Palm District Cooling – the region’s most versatile district cooling company – today announced the signing of a landmark contract worth AED 191 million with Shinryo Corporation, one of Japan’s leading engineering companies. Following the inking of the deal, PDC’s investment on the iconic Palm Jumeirah development has increased to more than AED1 billion.

The contract’s mandate is construction of two chiller plants that will provide 49,000 tons of cooling for the second phase of the Palm Trunk Jumeirah development. The two plants will link with the approximately 15 km of main header piping system that runs around the Palm Trunk, connecting the development’s hotels and apartment blocks.

Commenting on the landmark deal, Mr. Keith Levers, CEO of Palm District Cooling, said: “Our decision to award the contract to Shinryo followed a comprehensive review of a number of proposals and was based on our requirement to procure the most efficient and cost effective solution. We are constantly seeking to improve service quality and plant efficiency, to reduce the overall cost of cooling solutions.”

In his comments on the agreement, Mr. Kenji Yamamoto, General Manager, Shinryo Corporation, Dubai, said: “We are very pleased to partner Palm District Cooling. This is our third project for Palm District Cooling that is being managed through our Dubai office. As Asia’s leading district heating and cooling contractor, Shinryo Corporation offers a vision of urban infrastructure second to none. We are happy to be part of the iconic Palm Jumeirah development.”

The plants will consist of large centrifugal chillers - widely recognized as the most energy-efficient means of providing cooling for large-scale developments. With 12 large compressor modules, 10 having a capacity 4500 TR (refrigeration tons) each, the facility will require approx 44 MW of electrical power at peak load conditions during the summer, approximately 50% of the electrical power required for conventional cooling systems

The contract with Shinryo is the last of the contracts to be awarded for the district cooling for the whole of Palm Jumeirah. A total of eight plants are being constructed, encompassing a total capacity of 230,000 TR on the whole Palm Jumeirah development.

District cooling systems distribute thermal energy in the form of chilled water from a central source to multiple buildings through a network of underground pipes instead of using one local system for each building, thus creating both economic and environmental benefits. In addition to reduced CFC emissions and better noise control, the system uses only 50 per cent of the energy required for conventional methods.

For more information, please contact
Jessima Mustaffa
Palm District Cooling
Level 28, Al-Moosa Tower II; Sheikh Zayed Road
Post Box 116192; Dubai ; United Arab Emirates
Tel: +971-4-332-0227
Fax:+971 -4-332-0228
Email: Jessima.mustaffa@palmcool.ae
www.palmdistrictcooling.com

About Palm District Cooling:

Established in early 2004, Palm District Cooling is an utility service provider rather than a contractor. PDC invests in the plants and networks involved with the service and sells cooling energy to various types of end users from developers to tenants. The company also runs its own billing and metering operation and customer service center.

Palm District Cooling has focused on providing a service to a significant number of the prestigious developments of Nakheel and other developers including the Palm Jumeirah, Jumeirah Lake Towers, Jumeirah Village, Discovery Gardens, Dubai Multi Commodities Centre, Ibn Battuta Shopping Mall , Dubai Maritime City, Downtown Jebel Ali and International City.

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