Saudi Industrial Property Authority (Modon) has signed a SR1.1bn ($293m) agreement with National Tri-Generational CHP Company (NTCC) for the provision of district cooling to the Jeddah Second Industrial City.
NTCC will provide a cooling system on a build-operate-transfer basis. The company will supply the industrial city with 100,000 tonnes of district cooling and produce 80MW of power.
It will finance and build the district cooling plants, as well as operate them for 30 years.
The project is due to be completed by the end of 2011.
Jeddah Second Industrial City will cover an area of 8 square kilometres and is located 35km south of Jeddah.
Modon oversees 18 industrial cities in the kingdom with a total investment of more than SR200bn.