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Zamil Industrial Subsidiary Awarded Sar102 Million Contract For Jeddah South Power Plant 12-24-2013

Zamil Air Conditioners, a subsidiary of Zamil Industrial Investment Co. (Zamil Industrial), has been awarded a contract worth SAR 102 million (USD 27.2 million) from Hyundai Heavy Industries Co., Ltd., to supply custom air-conditioning systems for the Jeddah South Thermal Power Plant project, which is owned and operated by the Saudi Electricity Company in the western region of Saudi Arabia.

The discussions have been concluded and the contract was signed on Tuesday, 24 December 2013. The contract is expected to have a positive impact on the company's consolidated financials at the end of each stage during 2014 and 2015. The duration of the contract is 16 months and the company will begin supplying HVAC units in the second quarter of 2014 and end in the first quarter of 2015.

The scope of the agreement calls for Zamil Air Conditioners to supply a large number of water-cooled centrifugal chillers, air-cooled screw chillers, air-handling units of various types and capacities, roof-type packaged units, packaged air conditioners, ventilation fans, and accessories, as well as building management control systems for use in numerous buildings of various types at the site of this vital project. The supplied air-conditioning systems will provide a total cooling capacity of more than 12,800 tons.

The 2,650MW Jeddah South Thermal Power Plant will use supercritical pressure technology to generate electric power by operating at such a high steam pressure that it uses less fuel and emits fewer pollutants than other types of steam generators.

"We are excited that Zamil Air Conditioners has been chosen to participate in this multistage project," commented Osama Bunyan, COO of Zamil Industrial. "The opportunities that it offers are considerable, in terms of both strengthening our reputation as a trusted HVAC provider and demonstrating our capacity to furnish multiple industrial solutions for this vital facility. We look forward to our initial cooperation with Hyundai Heavy Industries within the Saudi Arabian power generation sector, and are pleased to be selected from a group of extremely qualified companies for this most prestigious project award."

For nearly four decades, Zamil Air Conditioners has reliably served leading national and multinational companies involved in important commercial and industrial projects in the Gulf region and around the world. Widely recognized as the largest provider of HVAC systems and solutions in the Middle East, the company engineers, manufactures, installs and services a complete line of air-conditioning products, including room air conditioners, packaged units and large chillers to meet the needs of residential, commercial and industrial customers.

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