Saudi PIF-owned recycling company says sector could be worth more than $18bn

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Fri, 2021-03-19 12:03

RIYADH: The CEO of Saudi Arabia’s biggest waste company said the low level of recycling in the Kingdom is a lost opportunity worth as much SR70 billion ($18.7 billion).
Saudi Arabia currently recycles less than 1 percent of its waste, Saudi Investment Recycling Company (SIRC) CEO Ziyad Al-Shiha told Aleqtisadiyah.
SIRC is a unit of the Kingdom’s Public Investment Fund.
The Kingdom produces 45 million tons of waste, half of which is from demolition and construction projects, a quarter from municipalities with the remainder from medical and industrial waste.

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