Zamil Industrial Signs Murabaha Facility with NCB for one of its Subsidiaries

Eastern District Cooling Co. Ltd., a wholly-owned subsidiary of Zamil Industrial Investment Company (Zamil Industrial), has signed with The National Commercial Bank (NCB), the first non-recourse project financing done in the region for a district cooling project. In November 2007, Zamil Industrial signed a 22-year Energy Performance contract with Saudi Basic Industries Corporation (SABIC) for the complete outsourcing of process and comfort cooling, including the building of a central cooling plant to supply 20,000 tons of refrigeration within the premises of
Saudi Iron & Steel Company (Hadeed) in Jubail Industrial City.