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“Recycling” for “Arqam”: 10 billion riyals, the value of electronic and electrical waste recycling in the Kingdom.. We intend to arrange the offering file during the second half of 2021

Al-Nasser Al-Dhueb, managing director of the private environmental recycling company “Tadweeer”, said that the value of the electronic and electrical waste recycling sector in the Kingdom is estimated at about 8 to 10 billion riyals, with a volume of 4 million tons annually. In an interview with Argaam, he indicated that the company obtains damaged materials and waste electronic and electrical devices through tenders or contracts with government agencies and companies. He explained that the company recycled nearly 100,000 tons over a period of 5 years, indicating that the production process takes about 22 to 35 days until the final product is formed, effectively contributing to transferring this waste from the landfills and returning it to the economy. He pointed out that the company’s activity achieves the most important goals of the Kingdom’s Vision 2030 program in the field of environmental preservation and continuous use of natural resources by improving recycling processes and obtaining basic minerals and commodities such as iron, copper, aluminum and components of gold and silver, among others, noting that these commodities have active demand markets. locally and internationally. He indicated that Tadweeer was established in the second half of 2015 and established its factory in a short period of time within a year and 4 months, and began its operations in 2017, and recorded net operating profits in the first year amounting to 800,000 riyals, and last year it achieved an increase in its profits to 9.5 million riyals. He explained that the company’s factory in Riyadh covers all regions of the Kingdom, in addition to the acquisition by “Tadweeer” of the branch of “Sims” International in Dubai, which will cover the Middle East and Africa. He said that the company’s production capacity capabilities started at about 15,000 tons, and it aims to raise it to 45 thousand tons this year, and then to more than 128 thousand tons by 2025. He indicated that the company’s investments will total 70 million riyals in developing production lines, noting that The company possesses high technologies, as artificial intelligence contributes to the sorting, crushing and production processes. Al-Dhoib touched on the challenges facing the recycling sector in the Kingdom, represented in the absence of regulations and legislation and weak oversight and transparency, pointing out that when laws are enacted, electronic and electrical devices after the expiry of their consumption period will be disposed of in dedicated waste tracks for recycling. He pointed out that many agencies and companies do not announce key information for large quantities of recyclable materials, and dispose of them through auctions, most of which lack transparency and do not meet the minimum requirements of regulations, and in which the sale takes place at the highest price to certain categories, benefiting from brokers that encourage illegal employment in the sector, which It deals with recycling operations by breaking or burning and it costs the national economy a lot. He added that the company’s operations re-create basic commodities, restore their value to the economy, and preserve the natural resources in the mines. Al-Dhaib revealed that the company is preparing to arrange its offering in the Saudi stock market during the second half of this year.