PIF’s Saudi Investment Recycling Co. joins European Petrochemical Association 

Saudi Investment Recycling Co. is wholly owned firm by the Public Investment Fund. (Saudi Investment Recycling Co.)
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Updated 07 August 2023
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PIF’s Saudi Investment Recycling Co. joins European Petrochemical Association 

RIYADH: As part of its expansion plans, Saudi Investment Recycling Co. has joined a leading network and knowledge exchange hub for the global petrochemical community.  

Wholly owned firm by the Public Investment Fund, SIRC has announced that it has joined the European Petrochemical Association, which includes more than 650 companies from all over the world, the Saudi Press Agency reported.  

This move falls in line with the firm’s commitment to achieving the objectives of one of the goals of the Kingdom’s Vision 2023 toward shifting away from landfills and reducing carbon emissions. 

“EPCA is one of the most important organizations in the petrochemical sector in the world, which will help us achieve our strategic goals and strengthen cooperation with international companies in the recycling sector,” SIRC CEO Ziyad Al-Shiha said. 

He added: “We expect this membership to contribute significantly to SIRC’s mission and allow it to benefit from ideas and studies related to developing a chemicals management program to create a sustainable and safe environment.” 

Furthermore, this move will also help SIRC to strengthen cooperation with international firms operating in the recycling sector. 

Founded in 2017, SIRC is a Saudi company specialized in the recycling sector. It owns a number of partnerships specialized in recycling waste of all kinds and is currently working on developing new projects in the Kingdom. 

The firm’s vision is to be the national waste management champion, driving the circular economy for a sustainable society.   

In 2021, the PIF-owned firm announced that it is seeking to do away with waste landfills by 2035.   

SIRC’s overall recycling strategy is targeted at 12 separate elements of waste, including raw sewage, construction/demolition debris, solid municipal waste and agricultural sludge.    

These also include industrial effluent, end-of-life vehicles and batteries, old tires as well as automotive lubricants, disused electronic equipment and cooking oil. 

Launched in 1967, EPCA is a place to share ideas, gain knowledge and discover cooperation opportunities as well as learn from global challenges faced by key industry players. 


Saudi non-oil exports jump 21% as trade balance improves: GASTAT 

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Saudi non-oil exports jump 21% as trade balance improves: GASTAT 

RIYADH: Saudi Arabia’s non-oil exports, including re-exports, rose 20.7 percent year on year in November to SR32.69 billion ($8.72 billion), official data showed. 

According to preliminary figures released by the General Authority for Statistics, national non-oil exports, excluding re-exports, increased by 4.7 percent in November compared with the same month in 2024. 

The strong performance highlights progress under the Kingdom’s Vision 2030 strategy, which aims to diversify the economy and reduce its long-standing dependence on crude oil revenues. 

In its latest report, GASTAT stated: “The ratio of non-oil exports, including re-exports, to imports increased in November 2025, reaching 42.2 percent, compared with 34.9 percent in November 2024. This increase was driven by a 20.7 percent rise in non-oil exports, alongside a 0.2 percent decline in imports over the same period.”  

It added: “The value of re-exported goods increased by 53.1 percent during the same period, driven by an 81.9 percent increase in ‘machinery, electrical equipment and parts’, which accounted for 51.5 percent of total re-exports.”  

Machinery, electrical equipment and parts also led the non-oil export basket, making up 24.2 percent of outbound shipments and recording an 81.5 percent annual increase. This was followed by products of the chemical industries, which represented 20.3 percent of total non-oil exports and rose 0.5 percent year on year. 

The data adds to signs of resilience in Saudi Arabia’s non-oil economy, with S&P Global’s Purchasing Managers’ Index at 57.4 in December, well above the 50 threshold that separates expansion from contraction. 

Top non-oil destinations 

The UAE was the leading destination for Saudi non-oil exports in November, with shipments valued at SR10.48 billion. 

India ranked second at SR3.01 billion, followed by China at SR2.32 billion, Singapore at SR1.76 billion and Bahrain at SR900.7 million. 

Exports to Egypt totaled SR815.5 million during the month, while Turkiye and Jordan received goods worth SR799.1 million and SR773.3 million, respectively. 

GASTAT said ports and airports played a central role in facilitating non-oil shipments in November. 

By sea, Jeddah Islamic Seaport handled the largest volume of non-oil exports at SR3.57 billion, followed by King Fahad Industrial Seaport in Jubail at SR3.51 billion. 

Ras Al-Khair Seaport was the exit point for non-oil goods valued at SR2.66 billion, while Jubail Seaport and King Abdulaziz Seaport in Dammam handled outbound shipments worth SR2.32 billion and SR2.14 billion, respectively. 

By air, King Abdulaziz International Airport handled goods worth SR5.60 billion, while King Khalid International Airport in Riyadh processed exports valued at SR3.53 billion. 

Exports and imports 

Saudi Arabia’s total merchandise exports reached SR99.73 billion in November, representing a 10 percent increase compared with the same month in 2024. 

“Merchandise exports in November 2025 increased by 10.0 percent compared to November 2024, and oil exports increased by 5.4 percent. The percentage of oil exports in total exports declined from 70.1 percent in November 2024 to 67.2 percent in November 2025,” GASTAT added.  

China remained the Kingdom’s largest export destination, accounting for 13.5 percent of total exports, followed by the UAE at 11.7 percent and Japan at 9.9 percent. India, South Korea, the US, Egypt, Singapore, Bahrain and Poland were also among the top 10 destinations, which together accounted for 71.4 percent of total exports. 

Imports declined by 0.2 percent year on year in November to SR77.38 billion, while the merchandise trade surplus surged by 70.2 percent, the report showed. 

China was the Kingdom’s largest source of imports, accounting for 26.7 percent of inbound shipments, followed by the US at 10.2 percent and the UAE at 6.2 percent.  

“Germany, Japan, India, Italy, France, Switzerland, and Egypt were also among the top ten import sources, with total imports from these ten countries representing 68.6 percent of Saudi Arabia’s overall imports,” added GASTAT.  

King Abdulaziz Port in Dammam was the leading entry point for goods, handling 22.8 percent of imports in November. Jeddah Islamic Port followed with 22.6 percent, ahead of King Khalid International Airport in Riyadh at 17 percent and King Abdulaziz International Airport in Jeddah at 11.9 percent.