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The move signifies UAE’s drive towards diversification of economy in order to sustain growth.
ELIPS is a joint venture between Emirates Central Cooling Systems Corporation (EMPOWER), UAE’s leading district cooling company and LOGSTOR, the world’s largest manufacturer of pre-insulated pipes. The $25 million facility will cater to the requirements of District Cooling Services and Oil and Gas across the Middle East.
District cooling is over 50 per cent more efficient than conventional air conditioning solutions; it also removes the heavy load on the electricity grid when demand for cooling is high. District cooling is the most eco-friendly air-conditioning technology in meeting the world’s CO2 reduction targets. Therefore we believe that the global growth in district cooling systems will be huge in the years to come.
Speaking at the launch, Ahmad Bin Shafar, Chief Executive Officer of Empower (51 per cent partner), said: “This factory represents Dubai’s success in bringing fresh investments into the Emirate. Further, it demonstrates Dubai companies’ progressive outlook reflected in investing in new ventures, expanding existing facilities to provide full integrated solutions and producing raw material internally instead of importing it.”
“Empower decided to enter this joint venture with an eye on securing the supply chain of pre-insulated pipes used in District Cooling Services (DCS) networks which constitute 20-25% of our total capital investment. The facility will ensure timely delivery and installation of pipe networks that will have a major impact on Empower’s project timelines,” Bin Shafar added.
ELIPS will ensure high quality of insulation and casing of pipes, enhancing efficiency and maintenance costs of District Cooling Systems services. It will also ensure price control by improving supply chain and eliminating artificial price fluctuations created by various players due to the demand-supply gap, Bin Shafar said.
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