Emirates Central Cooling Systems Corporation (Empower) is awaiting a new billion acquisition, according to the company's CEO, Ahmed bin Shafar.
Bin Shafar said that the final touches were put on a new acquisition of the corporation, the third of its kind in 3 months in Dubai, according to Al Bayan newspaper.
While he refused to talk about the details of the deal, he stressed that it is billion in value, and revolves around acquiring the cooling activity of one of Dubai's brightest, largest and most famous economic icons in the world.
Bin Shafar stressed that the leadership of the refrigeration industry in the world will remain in the grip of Dubai for the next two decades, and that Empower, which stands behind this achievement, is worthy of the responsibility to preserve and continue it. To achieve this, all efforts, energies and resources are exerted, especially in terms of employing the technologies of the Fourth Industrial Revolution in all its operations.
Observers said that the closest competitors to Empower had expected early this year to conclude 3 acquisitions in the district cooling market in Dubai, with a value between 2 and 3 billion dirhams. During the current and next two years, however, the course of events showed that the three acquisitions went to Empower.
