- As a part of an bold settlement, Veolia and the Saudi Funding Recycling Firm (SIRC), owned by the Public Funding Fund of Saudi Arabia, are partnering to handle natural, industrial, and dangerous waste at a regional and nationwide degree in accordance with the Imaginative and prescient 2030 program initiated by His Highness Crown Prince Mohamed bin Salman.
- By this memorandum of understanding, the 2 actors intention to mix their sources and expertise to protect the useful resource, decontaminate and decarbonize the nation by producing inexperienced power, in step with the GreenUp 24-27 strategic plan carried by Veolia, and of which the Center East is among the geographical boosters.
- Current for over 35 years and firmly established in Saudi Arabia, Veolia is thus intensifying its exercise and native footprint within the strategic sector of waste remedy.
PARIS–(BUSINESS WIRE)–Regulatory Information:
On the event of a state go to by the President of the French Republic Emmanuel Macron to Saudi Arabia, Veolia (Paris:VIE) pronounces the signing of a memorandum of understanding with the Saudi Funding Recycling Firm (SIRC) within the waste sector, considered one of its three historic companies.
Already firmly established within the Center East, Veolia plans, by 2030, to speed up its turnover by + 50 % to benefit from its cutting-edge applied sciences and experience alongside its industrial and municipal shoppers. The Group has chosen to make the area considered one of its geographical boosters of the GreenUp 24-27 strategic plan and for this function depends on numerous structuring tasks within the water, power and waste sectors.
In 2023, Veolia recorded a consolidated turnover of €280 million and had 2,500 workers in Saudi Arabia out of a complete of 1.1 billion euros within the Center East, with robust development. Extra particularly, within the waste sector: the Group processed 4.1 million tons of commercial waste on the nationwide degree and had a hazardous waste remedy capability of over 350 KT (NYSE:) by the exercise of emblematic crops.
The signing of this large-scale partnership with the Saudi Funding Recycling Firm, a number one participant dedicated to the round financial system, goals to extend current capacities with the intention to create, by 2027, a real nationwide and regional champion within the remedy of natural, industrial and dangerous waste in Saudi Arabia.
With its robust worldwide presence and mixed experience within the fields of water, waste and native decarbonizing power manufacturing, Veolia will have the ability to depend on its know-how to supply the Saudi Funding Recycling Firm (SIRC) a personalised collaboration mannequin, based mostly on innovation and effectivity to help the ambitions of the Imaginative and prescient 2030 program, launched in 2016.
“Facing the consequences of climate change, which are particularly tangible in the Middle East and Saudi Arabia, the stakes are immense to preserve resources, regenerate them, and pool expertise and tools. We are very proud to participate today, alongside the Saudi Investment Recycling Company, in this ambitious project for the ecological transformation of the Kingdom (TADAWUL:) and more broadly of the region. The future is being built now and the waste sector is a key lever for action to meet the challenge of ecological transformation”, declares Estelle Brachlianoff, CEO of Veolia.
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ABOUT VEOLIA
Veolia’s ambition is to develop into the benchmark firm for ecological transformation. Current on 5 continents with practically 218,000 workers, the Group designs and deploys helpful and concrete options for water, waste and power administration that assist to transform the sport. By its three complementary actions, Veolia contributes to creating entry to sources, preserving obtainable sources and renewing them. In 2023, the Veolia group served 113 million folks with consuming water and 103 million with wastewater providers, produced 42 terawatt-hours of power and recovered 63 million metric tons of waste. Veolia Environnement (OTC:) (Paris Euronext (EPA:): VIE) generated consolidated gross sales of 45.3 billion euros in 2023. www.veolia.com
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VEOLIA
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