Saudi PIF-Owned SIRC Starts Export of Recycled PET Flakes to UK

SIRC’s headquarters in Saudi Arabia (company website)
SIRC’s headquarters in Saudi Arabia (company website)
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Saudi PIF-Owned SIRC Starts Export of Recycled PET Flakes to UK

SIRC’s headquarters in Saudi Arabia (company website)
SIRC’s headquarters in Saudi Arabia (company website)

The Saudi Investment Recycling Company, SIRC, said on Tuesday it successfully completed its first export of recycled and heat-washed PET flakes through its joint venture project under Yadoum’s Masab, to one of the largest manufacturers of recycled PET bottles in the United Kingdom.
This comes after the company started exporting the flakes -small fragments of PET bottles- earlier this year to manufacturers in Spain.
SIRC, a fully Public Investment Fund-owned company, said in a statement that this achievement marks an important step for Yadoum to enter the British market, a region with tremendous potential for importing recyclable materials.
This move is not the first of its kind, as SIRC had previously started exporting PET flakes to Spain earlier this year, increasing exports to over 1,650 tons.
Commenting on the achievement, SIRC Group CEO, Engineer Ziyad Alshiha said, “We take pride in contributing to the Kingdom’s sustainability objectives through this initiative.”
He added, “By reducing greenhouse gas emissions, diverting waste away from landfills, and supporting the Saudi Green Initiative, SIRC plays a key role in empowering local industries and promoting a more sustainable future.”
The company said it is also strengthening its partnership with major companies in Europe. This cooperation is expected to push towards further integration in the PET recycling sector and other fields, it added.

 



Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday
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Madinah Investment Forum to Kick Off on Sunday

Madinah Investment Forum to Kick Off on Sunday

The Madinah Investment Forum, organized by Al-Madinah Al-Munawwarah Chamber under the theme "Invest in Madinah", will start on Sunday and run for two days.
The forum consists of a diverse range of programs, events, and four specialized dialogue sessions focusing on key aspects of the national investment strategy. It will host 18 speakers and more than 40 entities, and present 200 investment opportunities, valued at over SAR57 billion, in more than ten targeted sectors, SPA reported.
The event will highlight Madinah's significant achievements and showcase development and investment projects in the region. It will explore promising investment sectors, comparative and competitive advantages, and the region's potential to support investment growth. Key areas of focus include hospitality, logistics, agriculture, and real estate.
The forum's objectives include identifying investment opportunities in Madinah, fostering investment partnerships, attracting new investments, and introducing financing solutions and business sector services for major development projects.
The event is aimed at a broad audience, including local and international investors, government agencies, development organizations, private sector representatives, investment agencies, financial institutions, consulting firms, and professional service providers.