SIRC acquires 60% of Saudi Daz Waste Recycling Factory

20/05/2022 Argaam
Logo ofSaudi Investment Recycling Co. (SIRC)

Logo of Saudi Investment Recycling Co. (SIRC)

The Saudi Investment Recycling Co. (SIRC), which is wholly owned by the Public Investment Fund (PIF), acquired, through its subsidiary, Metal Recycling Company for Environmental Services, a 60% stake in Saudi Daz Electronic and Solid Waste Recycling Factory.

 

In a statement, SIRC said the partnership agreement comes within the framework of its strategic plan to form alliances with local companies specialized in recycling.

 

The company seeks, through its partnership with the private sector in general and Daz factory in particular, to enhance its investment in the field of recycling electrical and electronic devices as well as hardware.

 

In addition, SIRC aims to establish a real partnership with the private sector in order to develop the recycling industry.

 

SIRC stated that it has recently established Metal Recycling Company for Environmental Services to invest in the electronic waste and metal recycling sector.

 

Daz is one of the companies specialized in the recycling of electrical and electronic waste. It was established in Jubail Industrial City, and aims to raise the recycling rates through the use of topnotch technologies.

 

For More Mergers and Acquisitions

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