Saudi Investment Recycling Co. reaches agreement with Edama to accelerate organic waste management

Under the deal, a new joint company will be formed to develop organic waste recycling in Saudi Arabia. Shutterstock.
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Updated 12 October 2023
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Saudi Investment Recycling Co. reaches agreement with Edama to accelerate organic waste management

RIYADH: Sustainability efforts in the Kingdom are set to receive a boost as the Saudi Investment Recycling Co. has inked a deal with Edama Organic Solutions to accelerate waste management.

The agreement will see the companies uniting to promote desert agricultural development, according to a Saudi Press Agency report.

Edama was formed in 2017 as a spin-off from King Abdullah University of Science and Technology with a focus on delivering sustainable managed solutions.

Under the deal, a new joint company will be formed to develop organic waste recycling in Saudi Arabia, SPA added.

Ziyad Al-Shiha, CEO of SIRC, said that effectively materializing natural waste recycling initiatives is one of the company’s primary goals, aligned with the targets outlined in the Kingdom’s Vision 2030.

He added that SIRC will spearhead the journey to lead the circular economy by activating partnerships and investments, both locally and internationally.

“This project works to find sustainable solutions that address pressing environmental challenges and by leveraging science and technology, with the aim of fostering a greener future for Saudi Arabia,” said Sabrina Vettori, CEO of Edama.

She also expressed excitement about the firm’s collaboration with SIRC, which is expected to enhance recycling operations throughout Saudi Arabia.

Ian Campbell, the acting vice president for innovation at KAUST, noted that proper management of organic waste is necessary in Saudi Arabia to promote the public health of residents.

According to Campbell, a focus on natural debris control will help the Saudi Green Initiative, which aims to plant 10 billion trees and restore over 40 million hectares of degraded land through research and development.

The agreement is the latest move by SIRC to push forward the environmental protection agena in the Kingdom.

In September, the company inked a deal with the Saudi Ports Authority to combat the harmful effects of oil spills.

Under the agreement, the organizations will work together to create waste reception facilities and assist in tackling potential oil spills.

In August, SIRC signed another deal with Saudi Arabia’s low-cost airline flynas to embrace integrated waste management practices. 

The Memorandum of Understanding will look into recycling solutions from the operational waste collected from airlines, including oils, plastics and batteries.


Closing Bell: Saudi main index closes in green at 11,382 

Updated 27 January 2026
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Closing Bell: Saudi main index closes in green at 11,382 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 111.21 points, or 0.99 percent, to close at 11,381.83. 

The total trading turnover of the benchmark index was SR6.37 billion ($1.70 billion), as 204 of the listed stocks advanced, while 56 retreated. 

The MSCI Tadawul Index also rose, adding 13.85 points, or 0.91 percent, to close at 1,533.33. 

The Kingdom’s parallel market Nomu gained 8.39 points, or 0.04 percent, to close at 23,749.38. This came as 30 of the listed stocks advanced, while 45 retreated. 

The best-performing stock was East Pipes Integrated Co. for Industry, with its share price surging 9.94 percent to SR146. 

Other top performers included Tourism Enterprise Co., which saw its share price rise by 9.93 percent to SR14.17, and Thob Al Aseel Co., which saw a 7.84 percent increase to SR3.99. 

On the downside, Saudi Arabian Mining Co. was among the weaker performers, with its share price falling 2.64 percent to SR77.40. 

Saudi Paper Manufacturing Co. saw its shares fall 2.54 percent to SR57.50, while Yamama Cement Co. declined 2.07 percent to SR27.40. 

On the announcements front, Future Vision for Health Training Co. signed a two-year cooperation agreement with King Saud University aimed at strengthening links between academia and professional readiness. 

According to a Tadawul statement, the partnership focuses on the joint development and execution of specialized training programs for university students, aiming to enhance their practical skills and employability. 

The initiative includes coordinated efforts in training design, academic supervision, and program evaluation, with the goal of better preparing graduates for the labor market. 

The agreement, which is renewable by mutual consent, is expected to start generating a positive financial impact in the second half of 2026. The company said no related parties are involved in the deal. 

The company’s share price closed at SR7.30 on Nomu, marking a 1.39 percent decrease.