Veolia, a leading provider of utility management solutions, has entered into a deal with the Saudi Investment Recycling Company (SIRC) in the waste sector, one of its three historical businesses on the occasion of a state visit by the French President Emmanuel Macron to Saudi Arabia.

 

The signing of the large-scale partnership with SIRC, a leading player committed to the circular economy, aims to increase existing capacities in order to create, by 2027, a true national and regional champion in the treatment of organic, industrial and hazardous waste in Saudi Arabia, said a statement from Veolia.

 

Already firmly established in the Middle East, Veolia plans, by 2030, to accelerate its turnover by over 50% to take advantage of its cutting-edge technologies and expertise alongside its industrial and municipal clients, said Veolia in a statement. 

 

The group has chosen to make the region one of its geographical boosters of the GreenUp 24-27 strategic plan and for this purpose relies on a large number of structuring projects in the water, energy and waste sectors, it stated.

 

In 2023, Veolia had recorded a consolidated turnover of €1.1 billion ($1.2 billion) in the Middle East with strong growth. 

 

Of this €280 million ($294 million) came from Saudi Arabia, thanks to the contribution from its 2,500-strong workforce, said the statement.

 

More specifically, in the waste sector: the French group processed 4.1 million tonnes of industrial waste at the national level and had a hazardous waste treatment capacity of over 350 KT through the activity of emblematic plants, it added.-TradeArabia News Service