Emirates District Cooling Company LLC (Emicool), the region’s leading cooling service provider, has announced signing a 12-year refinancing agreement worth AED 900 million ($245 million) with Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE.

Through this agreement, Emicool seeks to refinance its existing debt and support its prospective expansion plans.

The deal was signed by Abdul Aziz bin Yacoub Al Serkal, Emicool’s Chairman, and Dr. Adnan Chilwan, DIB CEO. The deal was signed in the presence of Adib Moubadder, CEO of Emicool, and DIB executives.