Jabal Omar Development Company announced today on Tadawul signing SAR 550m agreements with the Saudi Tabreed Company to develop the district cooling systems for Jabal Omar project as follows:
- A joint venture agreement between Jabal Omar and Tabreed to form Jabal Omar central district cooling Co. with ownership ratios of 40% and 60% respectively.
- An agreement between Jabal Omar Development co. and Jabal Omar central district cooling Co. to adopt BOT system (build, operate and transfer) in implementing the project.
- Land lease agreement to lease the district cooling project’s land to Jabal Omar central district cooling Co. at SAR 5m annually.
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