Major Partnership Announcement: Veolia and Saudi Investment Company Join Forces to Revolutionize Waste Treatment in Region

In a bold move towards sustainable waste management, a groundbreaking partnership has been forged between Veolia and the Saudi Investment Recycling Company (SIRC), a subsidiary of the Public Investment Fund of Saudi Arabia. This collaboration, aligned with the Vision 2030 program envisioned by His Highness Crown Prince Mohamed bin Salman, aims to handle organic, industrial, and hazardous waste on a regional and national scale.

1. Resource Preservation and Green Energy Production:
   Through a comprehensive memorandum of understanding, Veolia and SIRC intend to leverage their expertise and resources to safeguard the environment, decontaminate, and decarbonize the nation by generating green energy. The strategic plan, GreenUp 24-27, spearheaded by Veolia, with the Middle East as a prominent focal point, underscores the commitment to environmental sustainability and resource conservation.
2. Veolia’s Strategic Expansion in Waste Treatment:
   With a rich history of over 35 years in Saudi Arabia, Veolia is poised to escalate its operations and local presence within the pivotal waste treatment sector. The collaboration with SIRC signifies a significant step towards reinforcing Veolia’s commitment to sustainable waste management practices and environmental stewardship.

In the wake of a state visit by the President of the French Republic, Emmanuel Macron, to Saudi Arabia, Veolia has sealed this momentous agreement with SIRC, cementing its role in the waste sector and furthering its contribution towards transformative environmental initiatives. As a cornerstone of its GreenUp 24-27 strategic plan, Veolia is steadfast in its mission to enhance its revenue by over 50% by 2030, capitalizing on cutting-edge technologies and specialized know-how.

Veolia’s Impressive Milestones:

• In 2023, Veolia’s consolidated turnover in Saudi Arabia reached €280 million, representing a substantial growth trajectory within the region.
• The Group boasted a workforce of 2,500 employees in Saudi Arabia out of a total of 1.1 billion euros in the Middle East, accentuating its burgeoning presence.
• Noteworthy achievements in the waste sector include processing 4.1 million tons of industrial waste nationwide and maintaining a hazardous waste treatment capacity exceeding 350 KT.

The collaborative partnership with the Saudi Investment Recycling Company signals a strategic endeavor to enhance existing capabilities, fostering the emergence of a premier national and regional powerhouse in organic, industrial, and hazardous waste management within Saudi Arabia. By 2027, this synergy aims to position the collaborative entity as a pioneering force in waste treatment, aligning with the Kingdom’s environmental aspirations and Vision 2030 objectives.

From Veolia’s perspective, the alliance with the Saudi Investment Recycling Company embodies a shared commitment to sustainable practices and circular economy principles. Leveraging its global footprint and expertise in water, waste, and energy production, Veolia is poised to offer tailored solutions, underscored by innovation and efficiency, to advance the goals of the Vision 2030 program.

In conclusion, the transformative collaboration between Veolia and the Saudi Investment Recycling Company heralds a new era of environmental responsibility and sustainable waste management practices in Saudi Arabia. As Estelle Brachlianoff, CEO of Veolia, aptly asserts, the future entails decisive action in the waste sector to realize the ecological transformation imperative for the Kingdom and the broader region.