Saudi Arabia’s PIF launches recycling company
Saudi Arabia’s Public Investment Fund has announced that it will establish a national recycling company as part of its Saudi Vision 2030 plans.
The new company, the Saudi Recycling Company, will develop and operate projects throughout Saudi Arabia to increase landfill diversion rates, recycle waste, and create alliances with private sector companies.
Studies show that only about 10 percent of recyclable waste is currently recycled, with 90 percent being disposed of in landfills.
Over 40 percent of Saudi Arabia’s estimated 50 million tons of recyclable waste are produced in just three cities: Riyadh, Jeddah and Dammam.
The Saudi Recycling Company plans to recycle 85 percent of this material and use it as a source of alternative energy in manufacturing. The company will work with all recyclable materials at each stage of the value chain.
In addition to its core recycling activities, the company plans to conduct awareness campaigns to educate the Saudi public about recycling and sustainability.
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