Saudi Investment Recycling Company (SIRC Group) and Hellenic Environmental Center (HEC) have signed a Memorandum of Understanding (MoU) to work on the establishment of environmental treatment centers for recycling services for ships in Saudi Arabia.
The Memorandum of Understanding was signed at Posidonia 2024 in Athens, Greece. The MoU aims to strengthen SIRC’s commitment to sustainability in marine management practices.
Furthermore, the partners want to support their commitments to environmental sustainability and responsible waste management, as well as recycling.
Specifically, Saudi Investment Recycling Company and Hellenic Environmental Center plan to explore and establish industrial waste treatment facilities.
Under the agreement, they will also jointly identify and evaluate strategic locations for these facilities, considering factors such as proximity to industrial centers, transportation infrastructure, and environmental impact.
SIRC Group is a subsidiary of the Public Investment Fund (PIF) of Saudi Arabia. The company’s goal is to support circular economy investments and transformative initiatives for a greener future.
HEC was founded in 1993 to manage the liquid residues of ships calling at the port of Piraeus. The company specializes in management services for environmentally harmful streams.