Arab Finance: The UAE-based cooling company Tabreed has terminated the previously signed contract with the Egyptians for Healthcare Services (EHCS) to provide the latter’s medical city CapitalMed with cooling solutions due to concerns over the devaluation of the Egyptian pound, Alarabiya reported.

The Emirati company has canceled the contract to avoid any potential negative impacts.

However, Tabreed will continue its operations in Egypt, with constant evaluation for the available investment opportunities in the market.

Earlier in 2022, Tabreed signed an agreement with EHCS to fund, construct, and operate a district energy plant designed in partnership with Shaker Consultancy to meet CapitalMed’s cooling and heating demands.

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