EQS-News

Saudi Arabia Ventures into Sustainable Waste Management

Issuer: National Center for Waste Management (MWAN) / Key word(s): Tender Offer/Sustainability Saudi Arabia Ventures into Sustainable Waste Management 14.05.2024 / 13:21 CET/CEST The issuer is solely responsible for the content of this announcement. The National Center for Waste Management (MWAN) aims to significantly reduce waste production, increase recycling rates, and divert 90% of its waste from landfills. Saudi Arabia is showcasing its strategies for the first time at the IFAT trade fair in Munich.

Munich, May 14, 2024. It is clear that Saudi Arabia's ambitious transformation and stated objectives for the waste management sector will offer investors lucrative opportunities and returns. By 2040, over 840 treatment and recovery facilities will be built to achieve the national objectives and targets for the waste sector. These will include Waste-to-Energy, recycling and recovery, composting in addition to Construction & Demolition recycling facilities and other key infrastructure.  This investment will help the kingdom achieve its recycling targets of 79% (up from the current 5%) and a landfill diversion target of 90% by 2040. The country is now unveiling its strategy and investment opportunities to the public at the IFAT trade fair, where more than 3,000 exhibitors are presenting from Monday, May 13, to Friday, May 17, in Munich.

Increasing urbanization and waste generation rates drive sector development

To unlock the market potential, the National Center for Waste Management (MWAN) was established as a Regulator and a Strategic Master Plan was devised. “One of the objectives is to address ever increasing waste generation volumes driven by urbanization and industrialization in and around major cities across the kingdom. The public perception of waste in Saudi Arabia is now shifting from being an economic and environmental burden to a resource that must be fully exploited,” says Sultan AlHarthi, Executive Director of Corporate Communications at the National Center for Waste Management (MWAN).