Dubai Investment Park (DIP) has signed an $86mn (AED316m) contract with Swiss firm ABB to commission a 132/11kv Dubai Water and Electricity Authority (Dewa) substation, adding to the six operational substations across DIP 1 and 2.
Located in DIP 1, the new substation will be energised in July 2019, according to a statement by DIP, a wholly owned subsidiary of Dubai Investments.
The deal – signed by Omar Al Mesmar, DIP general manager, and ABB’s managing director for the UAE, Gulf, and Near East, Dr Mostafa Al Guezeri – covers the supply, installation, testing, and commissioning of the 132/11kv substation.
DIP said ABB Industries is an approved Dewa contractor and specialist in the field of 132 kv substation projects globally.
“This new substation will help us to meet the demands of the businesses located in Dubai Investments Park,” said Al Mesmar.
“All sectors will be served from this substation and it will ensure the growth of logistics, residential, commercial and industrial sectors within DIP.”
The 132/11kv DEWA substation will be the seventh operational substation across DIP 1 and 2.
The news comes after a busy start to 2019 for Dubai Investments, a company listed on the Dubai bourse.
January saw it sign a partnership agreement with Millennium Hotels and Resorts to start work on a 138-room hotel in Dubai’s Al Hamriya, a move that marks their second real estate project together.
News broke a month later that its residential tower, Al Barsha 1, is on track to be completed in December 2019. The project hit the 25% completion mark, with excavation and substructure works fully complete.