Athens: In a step reflecting its commitment to environmental sustainability, Saudi Investment Recycling Company (SIRC), wholly owned by the Public Investment Fund (PIF), signed a memorandum of understanding (MoU) in Athens yesterday with the Greek company HEC.

The signing ceremony, which took place on the sidelines of the “Posidonia International Shipping and Marine Services 2024” exhibition, was held under the patronage of SIRC chairman of the board of directors Eng. Khaled Al-Salem, in the presence of the Saudi Ambassador to Greece Dr. Saad bin Abdulrahman Al-Ammar.

The MoU was co-signed by SIRC chief executive Eng. Ziad Al-Shiha and HEC chairman of the board of directors Dimitris Melissanidis.

It aims to create a partnership to establish environmental treatment centers to provide recycling services for ships in the Kingdom; enhance the commitment to environmental sustainability, waste management, and recycling; and explore and establish facilities for treating industrial waste.

Meanwhile, the two sides manage to jointly identify and evaluate strategic locations for industrial waste treatment facilities, considering factors such as proximity to industrial centers, transport infrastructure, and environmental impact.

In addition, the MoU promotes joint studies and research in the waste-management and recycling sectors to identify innovative solutions, improve the use of resources, and ensure compliance with all applicable environmental laws, regulations, and standards in the Kingdom.