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.

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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).

As part of its planning efforts, MWAN has divided the country into 25
regional clusters, where diligent and detailed planning led to the creation
of a large portfolio of investment opportunities within each cluster and
across various waste streams. "Strategic planning guided by a national
strategic vision, allowed MWAN to tailor cluster solutions based on specific
regional needs," explains Sultan AlHarthi.

Goal: 3 % reduction and per capita waste generation, and 79 % of waste
recycled

By 2040, an average of 90% less waste should end up in landfills. To reach
this target, a large portion of this waste will be recycled or recovered
through conversion to energy using various advanced technologies. One of the
key strategic targets set by MWAN is to reduce the overall waste generation
per capita by 3 percent. Another key target is related to Greenhouse Gas
Emissions aiming to reduce annual CO2 equivalent emissions by 177% from a
current baseline of 47.8 Mtpa CO2e. Achieving these targets (among many
others), Saudi Arabia aims to further enhance protection of its environment
resources and the life quality of its residents.

Key Progress

Planning efforts have reached key milestones by completing the master plans
of the five largest clusters in the kingdom, namely, Riyadh, Jeddah, and
Mecca, Dammam, and Madina, collectively generating over 60% of the waste at
a national level.

In Riyadh, for instance, annual waste generation currently stands at 25.8
million tons, accounting for over a quarter of the nationwide volume of 107
million tons. "Current plans are in place to develop over 80
treatment/recovery facilities in the coming years. These will include
Waste-to-Energy facilities (WTE), transfer stations, MRFs, RDF facilities,
C&D recycling, composting and others. Many opportunities are already
available for investors to take advantage of what the Saudi waste market has
to offer," explains Sultan AlHarthi. The same scenario described will apply
to the other four clusters. As such, Investors are presented with a
significant number of opportunities to build infrastructure and implement
innovative recycling technologies.

About the National Center for Waste Management (MWAN)
Established in 2019, the National Center for Waste Management (MWAN) serves
as the sole regulatory entity with a clear mandate to regulate and develop
the waste management sector in the Kingdom of Saudi Arabia. MWAN's mission
exceeds that of a typical regulator where the Center was granted by law the
ownership of waste and was mandated to promote and incentivize investment in
order to ensure the financial sustainability of the waste sector and help
the Kingdom adopt and implement circular economy principles. Leading with
strategic initiatives under Vision 2030, MWAN's efforts underscore Saudi
Arabia's commitment to diverting waste by 90% by 2040 and fostering a
sustainable future.

For more information, visit MWAN's website.


Press Contact
Scrivo Communications
Kai Oppel / Tristan Thaller
Lachnerstraße 33
D-80639 München

email: kai.oppel@scrivo.de / tristan.thaller@scrivo.de
tel: +49 178 6150154 (Oppel) / +49 151 21731447 (Thaller)
web: www.scrivo.de


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