Saudi Arabia's path to Circular Economy: National Center for waste
management presents it's investment opportunities for the first time at IFAT
2024 in Munich

Issuer: National Center for Waste Management (MWAN) / Key word(s): Tender
Offer/Sustainability
Saudi Arabia's path to Circular Economy: National Center for waste
management presents it's investment opportunities for the first time at IFAT
2024 in Munich

11.05.2024 / 12:58 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Munich (May 11, 2024). 90 percent less waste in landfills by 2040, waste
avoidance through ambitious strategic planning and implementation of
circular economy principles: Saudi Arabia is not only driving the
transformation of its economy but also vigorously pursuing sustainability
initiatives. For the first time the country will showcase its transformation
journey to the global public and investors at the IFAT 2024 waste management
trade fair (May 13 - 17, 2024).

"The waste management sector plays a pivotal role in the national transition
set under Vision 2030", says Sultan AlHarthi, Corporate Communication
Executive Director of the National Center for Waste Management (MWAN).
Established in 2019, MWAN is the national regulator mandated to plan and
ensure the sustainability of the waste management sector. As part of this
mandate, MWAN is developing a Strategic National Masterplan guided by a
National Strategy that adopts the fundamentals of circular economy
principles. The founding pillars of the National Strategy encompass 5
ambitions, 11 strategic objectives and 19 performance indicators reflected
in 65 initiatives setting the foundation for sector transformation. In line
with this strategy, MWAN launched several key initiatives aimed at
preventing waste at the source, incentivizing resource recovery and
maximizing diversion from landfills. Furthermore, in support of establishing
an integrated legislative framework, the Kingdom passed an advanced new
Waste Management Law that adopts Polluters Pay Principles, Extended Producer
Responsibility, and resource conservation, while at the same time
emphasizing financial sustainability of the sector as an integral objective.
The law was further supported by comprehensive Implementing Regulations and
Technical Guidelines to inform and guide the sector.

Return on Investment and Environmental Conservation: Vast and diverse
bundles of Investment Opportunities

"By embracing the fundamentals of sustainable and circular waste management
principles, Saudi Arabia is actively diversifying its economy and
prioritizing resource conservation and environmental protection.
Furthermore, and as part of its strategic commitment to tackle climate
change, The Kingdom aims to become a global hub for clean renewable energy
on its way to achieving net-zero carbon emissions by 2060," says Sultan
AlHarthi. By showcasing the Strategic Master Plan for the Kingdom and its
output consisting of hundreds of lucrative investment opportunities at IFAT
2024, the country aims to attract investors and potential partners. Experts,
technology providers and investors can interactively learn about the
transformation and explore investment opportunities in five selected pilot
projects. Opportunities span over a wide range of projects including
composting plants for organic waste and waste-to-energy facilities, in
addition to logistical infrastructure as well as advanced recycling and
recovery technologies.

Ambitious goals: 79 percent of waste to be recycled by 2040

Saudi Arabia is heavily investing in segregation at source and the full
value chain of recovery and recycling facilities, paving the way for
transformation. Saudi Arabia plans to adopt advanced technologies and
artificial intelligence applications to support its sorting and recycling
efforts.

A key driver for these investments is Saudi Arabia's aim to achieve a
recycling target of 79 percent and divert 90% of its waste by 2040. Until
then, Waste to Energy will comprise around 25 percent of the
treatment/recovery technology mix.

Data driven Strategic Planning

A key mandate of the National Center for Waste Management is to establish a
National Database for the waste sector that will help inform and guide
strategic planning and identify trends in generation patterns and other
waste metrics. The new database will also help planners anticipate
bottlenecks and regularly measure progress towards achieving strategic
targets.

About the National Center for Waste Management

The National Center for Waste Management was established in 2019. Its goal
is to regulate and monitor waste management activities, promote investments,
and enhance their quality based on the principles of the circular economy,
in order to achieve sustainable development goals.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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