Riyadh – Sharikat Mubasher: The Saudi Recycling Investment Company (SIRC), a subsidiary of the Public Investment Fund, signed a memorandum of understanding with U.S.-based EIG Management Company, LLC to co-invest in and finance Saudi Arabia’s circular-economy and waste-management infrastructure.

Ziyad Alshiha, SIRC CEO, and Abdulaziz Al Gudaimi, EIG’s Head of MENA Operations, formalized the agreement, which calls for joint exploration of strategic projects, knowledge-sharing, and compliance with regional and international regulations, as per the official press release.

Under the MoU, the partners plan to develop and fund advanced facilities producing refuse-derived fuel (RDF) from municipal waste—starting with a Riyadh plant backed by up to $375 million—and to build tire-recycling plants that convert scrap rubber into pyrolysis oil and recycled carbon black, with investments totaling around $250 million.

Alshiha noted that the collaboration aligns with Saudi Vision 2030 by accelerating the Kingdom’s transition to a sustainable, self-sufficient circular economy. Meanwhile, Al Gudaimi emphasized EIG’s commitment to supporting major development projects in Saudi Arabia and advancing its sustainable-investment goals.