Veolia, Saudi Investment Recycling Company sign MOU to create regional champion in waste treatment

On the occasion of a state visit by the President of the French Republic Emmanuel Macron to Saudi Arabia, Veolia announces the signing of a memorandum of understanding with the Saudi Investment Recycling Company (SIRC) in the waste sector, one of its three historical businesses.

Already firmly established in the Middle East, Veolia plans, by 2030, to accelerate its turnover by + 50 % to take advantage of its cutting-edge technologies and expertise alongside its industrial and municipal clients. The Group has chosen to make the region one of its geographical boosters of the GreenUp 24-27 strategic plan and for this purpose relies on a large number of structuring projects in the water, energy and waste sectors.

In 2023, Veolia recorded a consolidated turnover of €280 million and had 2,500 employees in Saudi Arabia out of a total of 1.1 billion euros in the Middle East, with strong growth. More specifically, in the waste sector: the Group processed 4.1 million tons of industrial waste at the national level and had a hazardous waste treatment capacity of over 350 KT through the activity of emblematic plants.

The signing of this large-scale partnership with the Saudi Investment Recycling Company, a leading player committed to the circular economy, aims to increase existing capacities in order to create, by 2027, a true national and regional champion in the treatment of organic, industrial and hazardous waste in Saudi Arabia.

With its strong international presence and combined expertise in the fields of water, waste and local decarbonizing energy production, Veolia will be able to rely on its know-how to offer the Saudi Investment Recycling Company (SIRC) a personalised collaboration model, based on innovation and efficiency to support the ambitions of the Vision 2030 program, launched in 2016

www.veolia.com