SIRC partners with EIG to boost recycling infrastructure in Saudi Arabia

SAUDI ARABIA – The Saudi Investment Recycling Company (SIRC), a subsidiary of the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), has signed a significant memorandum of understanding (MoU) with the U.S.-based investment firm EIG Management Company, LLC.

The agreement marks a strategic move to develop cutting-edge recycling infrastructure and strengthen the circular economy in Saudi Arabia.

Announced through a press release, the MoU was formally signed by SIRC Group CEO Eng. Ziad Al-Shiha and Eng. Abdulaziz Al-Gudaimi, Chairman of MENA Operations at EIG.

The collaboration aims to boost joint investment efforts and diversify funding sources for infrastructure projects critical to waste management and sustainability in line with the Kingdom’s Vision 2030 goals.

Under the terms of the MoU, both parties will explore investment opportunities and co-develop major waste-to-resource projects, focusing on building a resilient and sustainable waste management ecosystem.

The partnership underscores mutual efforts to exchange expertise and align operations with both regional and international environmental and legal frameworks.

A key focus of the partnership is the development of a refuse-derived fuel (RDF) facility in Riyadh, which will process waste into alternative fuel for use in energy-intensive industries such as cement production.

This project alone is expected to attract investments of around US$375 million, showcasing the scale and ambition behind the collaboration.

The MoU also includes plans to establish dedicated facilities for the recycling of end-of-life tires (ELTs). These facilities will convert scrap tires into valuable green energy products such as pyrolysis oil and recycled carbon black.

This initiative, with an estimated investment of US$250 million, is expected to provide a sustainable solution to tire waste while supporting the Kingdom’s broader environmental objectives.

Commenting on the partnership, Eng. Al-Shiha stated, “Our agreement with EIG reflects SIRC’s unwavering commitment to building robust international partnerships that foster innovation and sustainability.

“This step is vital for accelerating the Kingdom’s progress toward a fully integrated circular economy.”

This strategic alliance with EIG, a global energy infrastructure investor, not only reinforces Saudi Arabia’s leadership in environmental sustainability but also lays the groundwork for impactful transformation in how waste is managed, recycled, and repurposed across the region.

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