DAMMAM, 19 November 2007 — Zamil Industrial Investment Company (Zamil Industrial), through Energy Central Saudi Arabia, has signed on Nov. 13, 2007 a 22-year energy performance contract with Saudi Basic Industries Corporation (SABIC) for the complete outsourcing of process and comfort cooling and building a plant to supply up to 20,000 tons of refrigeration at Saudi Iron & Steel Company (Hadeed), a wholly owned subsidiary of SABIC.
The estimated annual value of this project is around SR42 million. State-of-the-art equipment and machinery will be used in the new plant which will reduce energy consumption and conserve the environment.
Abdulla M. Al-Zamil, chief operating officer at Zamil Industrial, said: “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.” Due to the nature of this complex undertaking, the process took longer than expected but will yield enormous benefits to Hadeed and will serve as a model for many of the SABIC companies and the extended industrial conglomerates in Jubail and elsewhere. This project will significantly reduce energy consumption, and will help Hadeed focus on its vision of becoming the leading producer of steel products in the region.
Zamil Industrial Investment Company supplies the global construction industry from its headquarters in Dammam, Saudi Arabia.