The Saudi Investment Company for Recycling “SRIK”, which is wholly owned by the Public Investment Fund, signed an agreement to acquire the “Masab” factory company by 60%, which specializes in plastic recycling, where “SIRC” was represented by Chief Business Development Executive Eng. Board of Directors and Managing Director, Saleh Al-Ruwaite.
This agreement comes in support of the company’s direction to establish a true partnership with the private sector for the purpose of development and advancement. The signing ceremony of the agreement took place on the sidelines of the activities of the Public Investment Fund and the Private Sector Forum, which discusses investment opportunities in many sectors, including the recycling sector.
The company seeks, through partnership with the private sector in general, and the “Masab” factory in particular, to enhance its investment in the field of plastic recycling, and to establish a true partnership with the private sector with the aim of developing and upgrading the recycling industry, according to the Saudi Press Agency, “SPA”. .
Circ is the main driver of the circular economy wheel in the Kingdom, and it invests in all types of waste, including solid, municipal, medical, electrical, and others. Circ also seeks, through this partnership and a group of other partnerships and investments, to reach the goal of excluding landfills by 94% at the level of the Kingdom. By 2035 AD.
