SIRC Acquires MASAB Recycling Company

The Saudi Investment Recycling Company (SIRC), a wholly-owned subsidiary of the Public Investment Fund (PIF), has signed an agreement to acquire a 60% stake in MASAB Plastic Recycling Company.

Representing SIRC in the agreement was Eng. Hasan Al-Omari, Chief Business Development Officer, while MASAB was represented by Board Member and Managing Director, Saleh Al-Rowaitah.

This acquisition aligns with SIRC's strategic direction to establish genuine partnerships with the private sector, aiming to drive development and elevate industry standards.

Through this partnership with MASAB specifically, and the private sector more broadly, SIRC seeks to enhance its investment in plastic recycling, foster meaningful collaborations, and further develop the recycling industry.

As the primary driver of the circular economy in the Kingdom, SIRC invests in a wide range of waste types, including solid, municipal, medical, and electronic waste. With this partnership, along with other key investments and collaborations, SIRC is committed to achieving its ambitious goal of diverting 94% of waste from landfills across Saudi Arabia by 2035.