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.

 



China Energy Engineering Signs Solar Deal with Saudi Partners

 The Sudair solar power project. Photo: PIF
The Sudair solar power project. Photo: PIF
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China Energy Engineering Signs Solar Deal with Saudi Partners

 The Sudair solar power project. Photo: PIF
The Sudair solar power project. Photo: PIF

China Energy Engineering signed a 6.98 billion yuan ($972 million) contract to build a solar power plant in Saudi Arabia, a filing with the Shanghai Stock Exchange showed.

The 2 gigawatt (GW) photovoltaic plant will be built by a joint venture between a China Energy Engineering consortium and Saudi partners sovereign fund PIF, ACWA Power and Saudi Aramco Power Company, Reuters reported.

Construction is expected to take 31 months, according to Monday's filing.

Last month, China's TCL Zhonghuan Renewable Energy Technology tied up with Saudi partners including PIF in a $2.08 billion silicon crystal and wafer manufacturing project.