National Environmental Recycling Co. (Tadweeer) completed 80 percent of the feasibility study for its metal smelter project in Saudi Arabia, its CEO Nasser Aldueb has said.

The preliminary indicators point to positive economic feasibility for the project, he told Argaam, an Arabic financial news portal.

Smelter projects are considered complex investments, which require specialised technical and operational expertise, he said, adding that it was too early to specify the project timeline.

In September 2025, Tadweeer had signed a memorandum of understanding (MOU) with China’s Chery Automobile to conduct technical and financial feasibility studies for the establishment of an aluminium plant and smelter in the Kingdom.

The company reported an 85 percent year-on-year (YoY) increase in revenue to 494 million Saudi riyals ($132.08 million), while net profit rose 12 percent YoY to SAR 20.4 million.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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