The Public Investment Fund (PIF) signed a memorandum of understanding (MoU) with Greek firm HEC, showing the commitment of the Saudi Investment Recycling Corporation (SIRC) to environmental preservation.
The signing ceremony took place in Athens during the "Posidonia International Shipping and Marine Services 2024" exhibition, with the presence of SIRC's chairman and the Saudi Ambassador to Greece.
The MoU aims to establish cooperative efforts in constructing environmental treatment centers for ship recycling, improving waste management and recycling commitments, and exploring facilities for treating industrial waste..
The 5th of June, 2024, Athens The Public Investment Fund (PIF), wholly owning the Saudi Investment Recycling Corporation (SIRC), signed a memorandum of understanding (MoU) with the Greek firm HEC yesterday in Athens. This action serves as evidence of SIRC's dedication to the preservation of the environment. The SIRC chairman of the board of directors, Eng. Khaled Al-Salem, presided over the signing ceremony that took place on the sidelines of the exhibition titled "Posidonia International Shipping and Marine Services 2024." Dr. Saad bin Abdulrahman Al-Ammar, the Saudi Ambassador to Greece, was also present at the event.
Dimitris Melissanidis, the Chairman of the HEC Board of Directors, and Eng. Ziad Al-Shiha, the CEO of SIRC, jointly signed the Memorandum of Understanding. It intends to establish a cooperative in order to construct environmental treatment centers that will provide recycling services for ships in the Kingdom; it strives to improve commitments to environmental sustainability, waste management, and recycling; and it seeks to explore and establish facilities for treating industrial the meantime, the two parties are working together to identify and analyze potential strategic locations for industrial waste treatment plants. They are considering a variety of factors, including proximity to industrial districts, transportation infrastructure, and environmental impact. Furthermore, the MoU supports collaborative studies and research in the waste management and recycling sectors in order to develop innovative solutions, maximize resource utilization, and ensure compliance with all relevant UK environmental laws, rules, and standards.
