مستخدم:IslamRefae/ملعب

Saudi Investment Recycling Company (SIRC)

The Saudi Investment Recycling Company (SIRC) is a Public Investment Fund company established in 2017 as part of the Fund’s strategy to develop new sectors within Saudi Arabia. SIRC plans to develop, own, operate and invest in various activities across all waste types in the Kingdom, including state of the art treatment and recycling facilities and waste to energy solutions that will support the National Renewable Energy Program. In addition, SIRC is acting as the national champion in the waste management sector by creating a range of opportunities for private sector participation, investing in companies across all waste streams and value chains, and identifying opportunities to invest in and localize proven and scalable technologies, which will meet and exceed the objectives of the vision 2030.

Scope

The Saudi Investment Recycling Company aims to be a key driver of the Kingdom's circular economy by raising total recycling operations to 81%.

Since SIRC's establishment, experts believe that the company has developed a strong strategy to develop the waste management sector in the Kingdom, and has already begun to develop, own, operate and invest various activities in all types of waste, including the use of the latest processing and recycling technologies, and the development of specialized power generation facilities.

Upgrading the sector will yield significant environmental, social and economic benefits for Saudi Arabia as SIRC aims at contributing over SAR 37 billion ($10 billion) to GDP, attracting up to SAR 6 billion ($1.6 billion) in inward investment and creating around 23,000 new jobs by 2030.

Memorandums of Understanding & Acquisition  

The Saudi Investment Company for Recycling has signed a number of memorandums of understanding with governmental, private, local and international entities, the most important of which is the agreement signed with the National Center for Waste Management and the Riyadh Municipality, to start the activities of integrated waste management and recycling of waste in Riyadh. 81 per cent of the annual production volume of municipal solid waste, which amounts to 3.4 million tons per year, and 47 per cent of the annual production volume of construction and demolition waste of about 8 million tons per year.

In September 2019, Saudi Investment Recycling Company completed all the final acquisition of the entire shares of Global Environmental Services Management Company (GEMS), wholly owned by Jadwa Investment Opportunities Fund in Industrial Waste Management, managed by Jadwa Investment Company.

The board of directors

·         H.E. Abdulrahman Al Fadley “Chairman”

·         Mr. Khalil Al Watban, board

·         Mr. Azzam Shalabi , board

·         Dr. Waleed Al-Shalfan, board

·         Mr. Michael Averill, board

·         Mr. Abdulaziz Al Rebdi, board

·         Mr. Mohammed A. Albalaihed, board

·         Mr. Ibrahim Al Shayee, board

·         Dr. Osama Faqeeha, board

·         Dr. Abdulrahman Al Turaigi, board

·         Eng. Jeroen Vincent , CEO & board