​Saudi's ​Zamil ​affiliate ​wins ​its largest supply contract ​at SAR 348 mln

Zamil Central Air Conditioners Company Ltd. has been awarded a SAR 348 million ($​92.8 million)​contract from Al Fouzan Trading to supply custom chiller systems for the Saudi Real Estate Development Company project owned by the Public Investment Fund.

ZamilCentral Air​, a wholly-owned subsidiary of Zamil Industrial Investment Company, said the contract’s financial impact will be reflected at the end of 2015 and 2016

The contract has a 12-month term for the supply of chillers, and 15 years for maintenance and support, Zamil said in a statement to Saudi’s bourse.

Zamil will begin supplying HVAC units during fourth quarter of this year, and will be done by the second quarter of 2016.

Theagreement, which is Zamil’s all-time largest awarded contract,includes the supply of 80 custom water-cooled centrifugal chillers with a total cooling capacity of 200,000 tons of refrigeration (TR) to be used in the first phase of the project.

The Saudi Real Estate Development project is being developed in Madinah on an area of 1.6 million square meters and will accommodate around 120,000 Muslim Hajj and Umrah pilgrims. ​