Dubai – Mubasher: A subsidiary of National Central Cooling Company (Tabreed) was awarded an amount of AED 118 million as per an arbitration award issued in August 2022 over a financial dispute with one of its clients.

The award value represents less than 5% of Tabreed’s listed share capital, according to bourse filing.

Meanwhile, the UAE-based firm noted that it will take the necessary steps to execute the ruling, adding that it will announce the financial impact once arises.

Last March, Tabreed developed a financing framework to boost green projects in line with the UAE’s carbon-neutral goals.