Palm District Cooling renews partnership with Barrel Energy

Palm District Cooling renews partnership with Barrel Energy

Move underscores Palm Utilities' commitment to support the development of small and medium enterprises in the UAE

May 05, 2009
Palm Utilities (PU), the water and district cooling utility service provider established by government-owned investment firm Istithmar, a major investment holding and part of the Dubai World group of companies, has announced that Palm District Cooling (PDC) has recently renewed its partnership with Barrel Energy L.L.C., a leading Dubai-based fuel supply management and lubricants service company. The move underscores PDC's strong commitment to support the Mohammed Bin Rashid Establishment for Young Business Leaders, a government program that facilitates the development of business and entrepreneurial activity among UAE nationals, of which Barrel Energy is a member.

Barrel Energy has supplied over AED 100 million or nearly 7 million IG (Imperial Gallons) of fuel to PDC and has also delivered logistics management services to PDC's district cooling station since 2007, supporting the temporary cooling service provided to customers. At its peak, Barrel Energy delivered up to 1 million IG of fuel a month to PDC; the company has also served most of its project sites including Palm Jumeira, Discovery Gardens, and Jumeira Lake Towers, and has also been a key supplier of other government and non-government entities.

Mohammed Abulhoul, Founder and Managing Director, Barrel Energy L.L.C. said: "It is certainly an honour for us to be a business partner of Palm District Cooling, which has distinguished itself as a world-class provider of district cooling services in the country. Barrel Energy is fully committed to support Palm District Cooling in its growing business ventures across the UAE market by maintaining the highest quality standards in the delivery of our products and services."

Shafiq Khoori, Managing Director, Palm District Cooling said: "Barrel Energy has been a very dedicated and quality-oriented business partner of Palm District Cooling. We are thus pleased to renew our partnership with them as their professionalism and strong work ethic are important qualities that will help us further raise the standards of our services and consolidate our portfolio of high-stakes projects."

PDC currently provides district cooling services to several prestigious mega developments in the UAE, including the Gardens Residential Complex, Jumeirah Islands, Discovery Gardens and Palm Jumeirah Trunk. PDC is also renowned for being a socially responsible company and a leading innovator in the district cooling industry.

Palm Utilities, through PDC and Palm Water (PW), has been established to address the region's unique requirements in the distinctly critical areas of district cooling, and wastewater treatment. PU has revealed that it is exploring possible joint venture initiatives for other utility projects in the Middle East, India and across Asia as part of its growth strategy for 2009.