Emirates Central Cooling Systems Corporation (Empower) is preparing to announce a strategic partnership with the Government of Sharjah to provide a government project with refrigeration services, while the company has made great strides towards listing in the market Stocks are awaiting a government decision in this regard soon.

Empower CEO Ahmed Bin Shafar revealed that the company is currently preparing for the offering, according to a government decision to put it on the capital market, noting that the idea of ​​listing is now stronger, due to the high value of the listing. Empower's market assets, acquisition plans, and expansion plans inside and outside the UAE during the next phase.

Bin Shafar said, according to Al Khaleej newspaper, that Empower will announce within days the acquisition of one or two companies within the UAE working in the same district cooling sector in Dubai, in order to meet the demand. On services in many areas and new government and real estate projects.

He expected Empower to achieve profit growth in 2021 by more than 10%, stressing that profits were not affected during the (Covid-19) pandemic last year, while it presented In support of its customers in the hospitality sector by exempting them from fees, and changing many business mechanisms during the past year.

He explained that the Corporation's production capacity has increased from 1.64 million tons of refrigeration to 1.85 million tons currently due to acquisitions and expansion of projects, and the number of buildings benefiting from the Corporation's services has increased from 1,252 Building in 2020 to 1633 buildings so far.

Bin Shafar added that the number of Empower customers increased from 140,000 customers in 2020 to 160,000 customers until this October, and the number of cooling stations increased from 84 stations in 2020. To 106 stations currently.

He pointed out that the Corporation has achieved savings in electricity consumption for the Government of Dubai by about 3.4 billion dirhams since its establishment until now.

Ahmed bin Shafar said at the end of last week that the value of the acquisitions made by the institution during the current year is estimated at 2.2 billion dirhams.

And he indicated that two projects will be announced before the end of this year, according to (CNBC Arabia), stressing that the idea exists, hoping that it will be implemented as soon as possible. possible time.