Saudi Arabia is accelerating its efforts to enhance the recycling and export of polyethylene terephthalate (PET) chips, with the aim to achieve environmental value, attract the European market, empower local industries, and promote a more sustainable future.
The Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund, announced earlier this week that it has exported its first recycled and heat-washed PET flakes to a major UK recycled PET bottle manufacturer, following its successful entry into the European market with shipments to Spain, raising exports to over 1,650 tons.
The PET flakes are produced through SIRC’s joint venture project under YADOUM, MASAB.
In a statement, SIRC said that its export of recycled PET flakes to the UK marks a significant step for YADOUM to enter the British market, a region with tremendous potential for importing recyclable materials.
Member of the Saudi Shura Council Fadel bin Saad Al-Buainain told Asharq Al-Awsat that waste recycling is one of the promising sectors that will contribute to achieving economic diversification and the sustainability of the circular economy.
“Exporting waste brings multiple gains to the Kingdom, including eliminating hazardous waste, strengthening the circular economy system, linking the local recycling system to global markets, and engaging into important and diverse partnerships... within qualitative global trade,” he stated.
According to Al-Buainain, YADOUM’S entry into the British market, which has enormous potential for importing recyclable materials, opens the door wide to broader and more comprehensive export operations, which in turn contribute to the disposal of waste and making use of it economically.
He added that Germany, Austria, South Korea, Wales and Switzerland are among the most advanced countries in the waste recycling industry, underlining the need to benefit from global experiences in legislation, regulations, investment and waste management.
For his part, Professor of Economics at Qassim University Dr. Ibrahim Al-Omar stressed that the recycling industry is considered one of the promising sectors, whether in terms of logistical support, or with regards to direct financial support and concessional financing from government funds.
Waste recycling achieves several benefits, including enhancing environmental sustainability, mitigating the effects of pollution resulting from the disposal of industrial and biological waste, preserving natural resources, protecting biodiversity, and improving the quality of life through environmental awareness and a suitable environment.
Al-Omar continued that investing in this sector stimulates innovation and technology, encourages research and development, and promotes green industries, which are an essential part of sustainable development.
