Global environmental management services company Reviva has signed a co-operation agreement with Enrestec, a specialist in waste tyre recycling, and local group Hama Holding mainly aimed at recycling waste tyres, an advanced step in tyre waste management at the regional level.
Reviva is an affiliate of Saudi Investment Recycling Company (SIRC), a company owned by the kingdom's sovereign wealth fund PIF (The Public Investment Fund).
Waste tyres pose an environmental challenge, as they often end up in landfills, taking up large space and causing environmental pollution that lasts for many years.
Through this new collaboration, Reviva, Enrestec and Hama will aim to significantly reduce environmental pollution, encourage recycling, and preserve and utilize resources, said its top official.
"The cooperation will lead to the development and implementation of advanced recycling technologies that can convert used tyres into valuable resources such as pyrolysis oil, carbon black, and steel, which can then be used in various industries including construction, paving, and even fuel," remarked Reviva CEO Khalid bin Saad Al Rashed.
"We aim to reduce waste and environmental pollution and strive to achieve a circular economy and promote a more sustainable future," he added.
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