KAFD and SIRC Sign MOU to Promote Waste Management Solutions
The Agreement Comes in Line with Saudi Vision 2030
Riyadh – Asdaf News:
King Abdullah Financial District Management and Development Company (KAFD DMC) and Saudi Investment Recycling Company (SIRC) a subsidiary of the Public Investment Fund (PIF), signed a Memorandum of Understanding (MoU), to collaborate on providing integrated solutions for different types of waste, particularly Construction and Demolition Waste (CDW), and food waste.
The MoU was signed by Ziyad Al-Shiha, CEO of SIRC, and Gautam Sashittal, CEO of KAFD DMC, today Wednesday, at a ceremony hosted in KAFD, on the sidelines of a panel discussion titled ‘Meeting National Targets for Waste Management and Recycling’, which was attended by about 50 guests including partners and media representatives.
Aligned with the shared visions of both companies for a cleaner and greener Riyadh, the MoU allows for the adoption of cutting-edge waste management solutions in KAFD. In a tailored trial for Riyadh’s prime business district, SIRC will be deploying multiple recycling vending machines in KAFD for the collection of food waste.
A key driver of Riyadh’s economic ambitions, KAFD is the largest LEED (Leadership in Energy and Environmental Design) certified mixed-use business district in the world, with over 40 Silver and Gold LEED certified buildings. Owned and managed by the KAFD DMC, KAFD is home to 1.6 million square meters of state-of-the-art office spaces, world-class venues, and iconic luxury residences, designed to transform the way urban communities live, work, and play.
Ziyad Al-Shiha, CEO of the Saudi Investment Recycling Company, expressed his satisfaction with the partnership, stating, “We are pleased to partner with the King Abdullah Financial District Management and Development Company (KAFD DMC). This collaboration represents a significant step forward as we establish a robust partnership with the shared objective of advancing the recycling industry and advocating for the principles of the circular economy. We are confident that this will contribute to addressing the challenges of climate change and reducing harmful emissions.”
Commenting on KAFD’s commitment to sustainability and its role in urban planning and future-proofing, Gautam Sashittal, CEO of KAFD DMC, explained, “Sustainability lies at the core of KAFD’s principles. By signing this agreement with SIRC, whose advanced and pioneering solutions align closely with our objectives, we aim to support the national goals of the Saudi Green Initiative by raising the waste diversion rate from landfills to 94% by 2035 and reduce greenhouse gas emissions in the city, contributing to livability and quality of life in KAFD.”
The Saudi Investment Recycling Company (SIRC) was founded in 2017 to develop, own, operate, and finance various activities across all waste types to establish recycling capacities in the Kingdom and build a circular economy for a sustainable future. SIRC will help to meet and exceed the objectives of Vision 2030 and support the success of various initiatives identified by the revised Waste Management National Regulatory Framework.
The company pursues business opportunities across all segments of the waste management value chain through establishing alliances with domestic partners, attracting foreign investments and promoting the utilization of innovative technologies; to maximize waste recycling, minimize waste disposal, maximize value generated from waste utilization, protect the environment, and improve the quality of life.
