Tadweeer signs SAR 43 mln contract to build electrical, electronic waste recycling plant

04/01/2023 Argaam

Tadweeer signs SAR 43 mln contract to build electrical, electronic waste recycling plant

Logo of National Environmental Recycling Co. (Tadweeer)

National Environmental Recycling Co. (Tadweeer) signed a contract with Tebrak Trading and Contracting Company and Mounes Mohamed Alshayeb for Civil Construction (MOBCO) to construct factories for recycling of electronic, electrical, and metal waste, at a value of SAR 42.7 million (including value-added tax), according to a statement to Tadawul. 
 

The factories will be built on an area of 42,000 square meters with a production capacity of 400,000 tons per year. 

 

The contract will be valid for 11 months, starting from the signing date. 

 

The move is expected to have a positive impact on Tadweeer's revenue on operations, which is expected in the second quarter of 2024. 

 

The decision to establish these plants comes from Tadweeer's vision to achieve its growth and expansion strategy and maximize its assets to achieve the highest levels of growth and the best financial returns for its shareholders.  

 

The factories will meet the current and future market demand locally and globally. It will also double Tadweeer’s sales and enhance its competitiveness, the statement added.

 

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