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.

 



AMAK Obtains Quartz Exploration License in Saudi Arabia

One of AMAC’s mining projects (The company’s website)
One of AMAC’s mining projects (The company’s website)
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AMAK Obtains Quartz Exploration License in Saudi Arabia

One of AMAC’s mining projects (The company’s website)
One of AMAC’s mining projects (The company’s website)

Almasane Alkobra Mining Co. (AMAK) has won a quartz exploration license from the Ministry of Industry and Mineral Resources, covering 90.15 square kilometers in the Najran-Aseer province.

In a statement to the Saudi Stock Exchange (Tadawul) on Monday, the company said the license was issued on Aug. 11, 2024 and is valid until Aug. 10, 2029.

It added that the license, which covers a total area of ​​90.15 square kilometers, was issued in accordance with the Mining Investment Law and its executive regulations, indicating that it will conduct the necessary studies and exploratory work on the sites during the regulatory period to ensure the availability of the required raw materials.

The financial impact value and timing of this license will become clear after the completion of exploration work and studies. Any major development regarding this license will be disclosed in a timely manner, AMAK noted.