Saudi Arabia: Zamil, SABIC in $11.3 Million USD Cooling, Refrigeration Deal

— Zamil Industrial Investment Company has signed an $11.3 million USD, 22-year agreement with Saudi Basic Industries Corporation (SABIC) for the complete outsourcing of process and comfort cooling and a plant to supply refrigeration at the Saudi Iron and Steel Company (Hadeed). "This first-of-its-kind agreement in the Gulf region will usher in an era of utility outsourcing for large industrial and commercial players who want to focus on their own service delivery and would like to rely on specialized partners to support them in that quest," said Zamil Industrial CEO Abdulla M. Al Zamil. Zamil Air Conditioners recently won a contract to provide 45 or more air-cooled screw water chillers, air-cooled condensing units, and air-handling systems of various sizes and capacities for the Rabigh Development Project...