Doha: United District Energy International 'UDEI' the international arm of Qatar Cool, Marubeni Corporation and Ajlan & Bros Holding announce the signing of an agreement for the creation of a joint venture company called Diarona District Energy Limited, positioned in the Kingdom of Saudi Arabia.

Yasser Al-Jaidah, UDEI Director and Qatar Cool CEO, comments on the occasion,“With our experience and successes from Qatar Cool we are eager to expand upon this, and to be the driving force of sustainable cooling technology in Saudi Arabia. Marubeni's Satoru Harada, Executive Officer, Chief Operating Officer, Power Business Division commented,“We are very excited to start this new venture with our partners in an increasingly growing sector in the Kingdom.

The entry into this joint venture and business is in line with Marubeni's mid-term management strategy to become a forerunner in Green Business. Marubeni is looking forward to bringing its expertise and experience in developing major infrastructure projects in the Kingdom and the wider region to contribute to the growth of the joint venture and to deliver value to our customers.”

His Excellency Ali AlHazmi, Group Chief Executive Officer of Ajlan & Bros Holding added,“The creation of Diarona District Energy with such well-respected and internationally recognised partners as UDEI and Marubeni, is a demonstration of our commitment to building world-class business to support Vision 2030 and the prosperity of the Kingdom of Saudi Arabia. Moreover, we, at Ajlan & Bros Holding, believe in the strategic importance of the increased demand for water, power and district cooling requirements driven by the rapid growth of expanding industrial-based demand.

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