The new leadership team faces the immediate challenge of stabilizing the business, restoring profitability, and convincing shareholders that SPPC can survive.
By 2040, the Kingdom aims to divert 90 percent of all waste streams away from landfills, with specific targets of 40 percent recycling, 31 percent composting, and 16 percent waste-to-energy conversion.
PET leads material streams with 25 percent market share, and packaging represents the largest application at 40 percent.
With accumulated losses now at 98.4 percent of capital, shareholders will vote on the company’s continuity plan to ensure operations can continue while the turnaround takes effect.
The Kingdom aims to divert 90 percent of waste from landfill by 2040, creating significant opportunities for packaging recyclers and sustainable material innovators.
will produce high-quality pellets and flakes using advanced technologies to meet international quality standards.
The move integrates recycling industry as a standalone sector in the Kingdom.
Companies now need to reprint stock or modify existing packaging to comply.
Project aims to enhance market confidence in Saudi halal products both locally and internationally.
Rising paper consumption and the growth of production facilities increase the volume of waste.