BEEAH, the Middle East’s leading sustainability and digitalisation pioneer, the Saudi Investment Recycling Company (SIRC), a wholly-owned subsidiary of the Saudi Public Investment Fund (PIF); and Al-Maqar Development Company (ALMQR), the investment arm of the Municipality of Madinah, have signed an agreement to establish a limited liability company that will develop and provide integrated waste management solutions in the Province, from collection of waste at the source through to treatment, recycling and disposal in the general landfill.
The signing ceremony, which took place last week in the city of Yanbu, was witnessed by Prince Faisal bin Salman bin AbdulAziz Al-Saud, Governor of Madinah Province, in the presence of Abdulrahman bin Abdulmohsen Al-Fadley, Minister of Environment, Water and Agriculture, and Fahad bin Mohammed Albelaihshi, Secretary of Madinah Province.
The agreement was signed by Khaled Al Huraimel, Group CEO of BEEAH, Eng. Ziyad AlShiha, Group CEO of SIRC, and Majed Alshalhoob, CEO of ALMQR.
Speaking on the partnership, Group CEO of BEEAH, said, "We are pleased to partner with SIRC and ALMQR, two institutions leading the way in the areas of circularity and urban development. BEEAH looks forward to drawing from our experience in waste management in the Holy City of Madinah and in the UAE, where we have achieved several regional firsts. By combining our strengths with SIRC and ALMQR, we look forward to achieving new benchmarks in sustainable waste management, supporting the development of thriving communities, shaping the circular economy and progressing towards a zero-waste to landfill future in the Province of Madinah.”
As per the agreement, BEEAH, SIRC and ALMQR will work together to drive innovation and efficiencies across the waste management value chain, from waste collection to waste treatment and enhanced material recovery. Ultimately, the partnership aims to foster the circular economy while shaping a cleaner and greener province in alignment with KSA Vision 2030 and the United Nations Sustainable Development Goals.
Speaking about the partnership, Ziyad AlShiha, Group CEO of SIRC, said, “Creating local and global partnerships are key to innovation and investing in circular economy solutions. The Holy City of Madinah is an important area for the Kingdom and SIRC, as we work to drive the circular economy. Through this partnership with ALMQR and BEEAH, we look forward to implementing advanced solutions and leveraging recycling best practices to uncover value across the waste management chain in Madinah.”