{"id":76557,"date":"2023-03-20T02:00:23","date_gmt":"2023-03-20T02:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=76557"},"modified":"2025-12-15T08:40:47","modified_gmt":"2025-12-15T08:40:47","slug":"saudi-investment-recycling-company-acquires-60-of-plastic-recycling-company-masab","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/saudi-investment-recycling-company-acquires-60-of-plastic-recycling-company-masab\/","title":{"rendered":"Saudi Investment Recycling Company acquires 60% of plastic recycling company Masab"},"content":{"rendered":"<section id=\"76559\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76559\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/today-sirc-acquires-60-of-masab-usaid-sets-up-funding-for-lebanese-solar-power\/\">\r\n                            TODAY: SIRC acquires 60% of Masab + USAID sets up funding for Lebanese solar power                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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          <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/today-sirc-acquires-60-of-masab-usaid-sets-up-funding-for-lebanese-solar-power\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/481.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"76560\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/today-sirc-acquires-60-of-masab-usaid-sets-up-funding-for-lebanese-solar-power\/481-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/481.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"481.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/481.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/481.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-76559\" class=\"content-area-description single-story post-76559 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cop28 tag-emissions tag-enterpriseclimate tag-international-energy-agency tag-nuclear-energy tag-uae tag-water-scarcity tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, ladies and gents. <\/strong>As we enter the homestretch before Ramadan, the regional updates appear to be slowing down but there are still a few stories making headlines.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>The Saudi Investment Recycling Company \u2014 a wholly owned subsidiary of KSA\u2019s sovereign wealth fund the Public Investment Fund \u2014 acquired a 60% share in Masab Plastic Factory Company, and Lebanese SMEs will get a boost from a new USAID fund aiming to bring solar power to the country. <strong>We have all the details on these stories and more in the news well, below.<\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- EU reveals Net Zero Industry and<\/strong><strong> Critical Minerals Acts to rival Chinese dominance:<\/strong> The European Commission is looking to source at least 40% of the bloc\u2019s clean technologies domestically by 2030, as part of its newly proposed <a href=\"https:\/\/single-market-economy.ec.europa.eu\/publications\/net-zero-industry-act_en\">Net Zero Industry Act<\/a>. The commission also proposed a target to shore up at least 10% of its annual rare earths demands domestically as part of its <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_23_1661\">Critical Minerals Act<\/a> in a bid to wean the bloc off Chinese dependency in the energy transition.<\/p>\n<p><strong>The story has been making the rounds:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-16\/eu-proposes-designating-copper-and-nickel-as-critical-metals?leadSource=uverify%20wall]\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/eu-unveil-plans-leadership-green-industrial-revolution-2023-03-16\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/4ba01b96-a117-4811-98c0-61d1439e3559\">Financial Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/03\/15\/eu-us-biden-trade-dispute-green-economy\/81d674a2-c31f-11ed-82a7-6a87555c1878_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/europe-to-unveil-clean-tech-plans-in-bid-to-rival-u-s-china-a391ef5a\">Wall Street Journal<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>HAPPENING TODAY- Denmark is kicking off the <\/strong><strong><a href=\"https:\/\/stateofgreen.com\/en\/news\/climate-ministers-meet-in-copenhagen-to-set-the-course-towards-cop28\/\">Copenhagen Climate Ministerial<\/a><\/strong><strong> today <\/strong><strong>and continues tomorrow <\/strong>in Copenhagen marking the first political high-level gathering to follow-up on the COP27 summit\u2019s conclusions and agreements. Denmark and co-hosts Egypt and the UAE will host talks to establish continuity between the last climate summit and November\u2019s COP28, and progress on how targets align with the Paris agreement. <strong>Over in Germany<\/strong>, <a href=\"https:\/\/giia.net\/events\/infrastructure-investor-global-summit-berlin-2023\">The Infrastructure Investor Global Summit<\/a> also kicks off today and carries through to Friday in Berlin gathering industry leaders from the global infrastructure sector to map out a course for the industry to upscale its ESG-focused operations and investments.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>OVER IN COP LAND- IEA prepping COP28-linked special report: <\/strong>The International Energy Agency (IEA) is in the process of writing a special report to be published ahead of COP28 on the role of oil and gas producers in the transition to net zero emissions, according to a <a href=\"https:\/\/www.iea.org\/news\/iea-hosts-cop28-president-designate-sultan-al-jaber-for-roundtable-discussion-with-over-50-countries-on-the-road-to-cop28\">statement<\/a> released last week. COP28 President-Designate Sultan Al Jaber presented his vision for the UAE\u2019s presidency in a roundtable discussion hosted in Paris with representatives from over 50 countries invited to share thoughts regarding Al Jaber\u2019s vision for COP28. During his visit, Al Jaber met with French President Emmanuel Macron and French Economy and Energy Transition Minister Agn\u00e8s Panet-Ronache, as well as government and civil representatives working on climate matters, <a href=\"https:\/\/wam.ae\/ar\/details\/1395303140182\">Wam<\/a> reported.<\/p>\n<p><strong>ALSO- Al Jaber launched the International Youth Climate Delegate Program in <\/strong><strong>partnership with <\/strong><strong><a href=\"https:\/\/youngoclimate.org\/\">YOUNGO<\/a><\/strong>, according to a <a href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1636281344694132737\">tweet<\/a> last week. Al Jaber stressed the importance of young people\u2019s involvement to reach \u201ccomprehensive action for the planet.\u201d YOUNGO consists of a large number of youth-led organizations, groups, and individuals working to address climate change.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> WATCH THIS SPACE #1- Nuclear energy on the moon? <\/strong>Rolls-Royce secured some USD 3.5 mn in funding from the UK space agency to finance its project to install small modular nuclear reactors on the moon, <a href=\"https:\/\/www.cnbc.com\/2023\/03\/17\/uk-backs-rolls-royce-project-to-build-a-nuclear-reactor-on-the-moon.html\">CNBC<\/a> reports. The company hopes to get a small nuclear reactor ready by 2029 to provide a continuous source of energy for astronauts on lunar missions. Rolls-Royce is partnering with researchers from the University of Oxford, and the University of Sheffield\u2019s Advanced Manufacturing Research Centre and Nuclear AMRC on their Micro-Reactor Program.<\/p>\n<p><strong>WATCH THIS SPACE #<\/strong><strong>2- Nuclear energy is considered \u201cgreen\u201d as the UK looks to lock in <\/strong><strong>private sector investment:<\/strong> The UK government is set to include nuclear production tech in its green investment rulebook, UK Chancellor Jeremy Hunt said during a <a href=\"https:\/\/www.gov.uk\/government\/speeches\/spring-budget-2023-speech\">speech<\/a> last week. The UK is looking to draw private sector investment into the nuclear sector in a bid to build small and large modular reactors, offering incentives similar to those other renewable energy developments, Hunt said. A new nuclear program \u2014 Great British Nuclear \u2014 will work on bringing down nuclear production costs, facilitate investments into the sector, and address market constraints in line with the country\u2019s target to source 25% of electricity demand from nuclear by 2050. The move follows an EU <a href=\"https:\/\/www.cnbc.com\/2022\/07\/06\/europe-natural-gas-nuclear-are-green-energy-in-some-circumstances-.html\">decision<\/a> last year to count the energy source toward its renewable energy production targets.<\/p>\n<p><strong>REMEMBER- EU countries remain divided on the role of nuclear energy. <\/strong>Debate over whether nuclear-derived hydrogen should be allowed to count towards the EU\u2019s renewable energy generation targets has <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d0225f94-a58c-498e-aa9d-0d8cf242502e\">delayed the finalizing of a text<\/a> outlining the EU\u2019s diplomatic priorities ahead of COP28 \u2014 which was supposed to be agreed on by member countries in February and has been delayed with no updates. France has been attempting to rally support for the inclusion of nuclear power as a low carbon energy source in EU policies, seeking a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5cceb06e-d092-4be0-a15d-9d7eb4a28d81\">nuclear alliance<\/a> to counter German, Spanish, and other EU <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/france-new-row-with-germany-spain-over-nuclear-derived-hydrogen-2023-02-08\/\">opposition<\/a> to nuclear\u2019s incorporation.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #3- Shell excluded end-user emissions from its climate <\/strong><strong>targets, failing to account for 95% of its emissions<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/environment\/shell-rules-out-more-ambitious-goal-end-user-emissions-2023-03-16\/\">Reuters<\/a> reported last week citing Shell\u2019s <a href=\"https:\/\/ent.news\/2023\/3\/838.pdf\">2022 Energy Transition Progress Report<\/a>. A group of Shell\u2019s shareholders have called on the energy company to set ambitious targets to reduce their Scope 3 emissions \u2014 emissions from the end-users of Shell\u2019s energy products. Shell opted to reject the request, citing a possible loss of customers to competition as a reason for their decision. \u201cThe Board has considered setting a Scope 3 absolute emissions target, but has found it would be against the financial interests of our shareholders and would not help to mitigate global warming,\u201d company chair Andrew Mackenzie said in the report. The topic of having Scope 3 emission as part of Shell\u2019s emission targets is \u201cthe focus of some of the climate litigation against [the company],\u201d the report adds. The rejection of the stricter emission targets comes a couple of weeks after Shell said it was <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ad094986-c805-4bd3-860a-a3a203bf1923\">reviewing its plans to slash its oil output<\/a> and noted that it may backtrack on its oil slashing target depending on \u201cright market guidance.\u201d<\/p>\n<hr class=\"grey-line\">\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday at 4am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p>Were you forwarded this email? <strong>Get your own <\/strong><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">subscription without charge here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/>\n <strong>***<\/strong><\/p>\n<p><strong>THE DANGER ZONE-<\/strong> <strong>\u201cNo person, place, economy or ecosystem will be spared\u201d: <\/strong>Fresh water demand is projected to surpass availability by 40% by the end of the decade, experts warn in a new <a href=\"https:\/\/ent.news\/2023\/3\/800.pdf\">report (pdf)<\/a> published by the Global Commission on the Economics of Water. The document outlines seven points for collective action in order to achieve water security including an increase of investments in water management through public-private partnerships, pricing water appropriately, and creating equitable partnerships to raise money for water projects in low- and middle-income nations.<\/p>\n<hr class=\"grey-line\">\n<p><strong>CLIMATE DIPLOMACY- UAE + Georgia finalize comprehensive economic <\/strong><strong>partnership agreement: <\/strong>The UAE signed a trade agreement with Georgia on Friday to expand bilateral investments in key sectors including renewable energy, agriculture, and transport, <a href=\"https:\/\/wam.ae\/en\/details\/1395303140079\">Wam<\/a> reports.<\/p>\n<p><strong>ALSO- UAE, Korea discuss renewables investments:<\/strong> Emirati Energy Minister Suhail bin Mohammed Al Mazrouei met with Korea\u2019s Trade Minister Dukgeun Ahn to discuss potential joint investment in food security, tech, and trade as part of the UAE\u2019s plan to invest some USD 30 bn in the Korean market, according to a <a href=\"https:\/\/wam.ae\/en\/details\/1395303140011\">statement<\/a> released on Thursday. The pair also discussed potential projects in the water and energy sectors.<\/p>\n<hr class=\"grey-line\">\n<p><strong>COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p>\n<p class='web-image' ><a href='https:\/\/exportsfdi.enterprise.press\/registration.html'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/708.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>We are delighted to share with you that the Enterprise Exports & FDI Forum<\/strong> will be taking place on <strong>15 May<\/strong> at <strong>the Four Seasons Hotel at Nile Plaza in Cairo.<\/strong><\/p>\n<p><strong>DO YOU WANT TO ATTEND?<\/strong> The first wave of invites is going out soon. If you\u2019re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please <a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\">click here<\/a> to request a spot at this exclusive event.<\/p>\n<p><strong>WANT TO SHARE YOUR STORY ON STAGE?<\/strong> Drop a note to <a href=\"mailto:patrick@enterprisemea.com\">Patrick here and let\u2019s talk<\/a>.<\/p>\n<p><strong>WANT TO BECOME A COMMERCIAL PARTNER?<\/strong> Ping a note to <a href=\"mailto:mtaalab@inktankir.com\">Moustafa, our head of commercial, here<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Italy will host the energy transition expo <\/strong><strong><a href=\"https:\/\/en.keyenergy.it\/k.ey-2023\/about\/discover-the-fair\">K.EY<\/a><\/strong> <strong>from Wednesday, 22 March to Friday, 24 <\/strong><strong>March<\/strong> in Rimini. The event will gather experts in the fields of science, technology, and business to host energy-related discussions on technologies and services that direct a shift towards a carbon-neutral economy.<\/p>\n<p><strong>The US will host the <\/strong><strong><a href=\"https:\/\/sdgs.un.org\/conferences\/water2023\">UN Water Conference<\/a><\/strong><strong> from Wednesday, 22 March to Friday, <\/strong><strong>24 March<\/strong> in New York. The conference is a midterm review of the <a href=\"https:\/\/www.un.org\/en\/events\/waterdecade\/#:~:text=The%20objectives%20of%20the%20Decade,of%20cooperation%20and%20partnership%20at\">International Decade for Action on Water for Sustainable Development<\/a> launched in 2018.<\/p>\n<p><strong>The first <\/strong><strong><a href=\"https:\/\/mbrsic.ae\/en\/mena-sc\/about-mena-sc\/\">MENA Solar Conference<\/a><\/strong><strong> is accepting applications from published<\/strong><strong> researchers specialized in PV technology until Sunday, 30 April.<\/strong> The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers <a href=\"https:\/\/mbrsic.ae\/en\/mena-sc\/paper-submission-1\/\">here<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emissions\/\">emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/international-energy-agency\/\">International Energy Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nuclear-energy\/\">Nuclear Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water-scarcity\/\">water scarcity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76561\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76562\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76562\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/saudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab\/\">\r\n                            Saudi Arabia\u2019s SIRC acquires 60% of plastic recycling company Masab                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/saudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n    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acquires 60% of plastic recycling company Masab&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/saudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/saudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab\/&title=Saudi Arabia\u2019s SIRC acquires 60% of plastic recycling company Masab\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+Arabia%E2%80%99s+SIRC+acquires+60%25+of+plastic+recycling+company+Masab+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F03%2F20%2Fsaudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/saudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/801.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"76563\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/saudi-arabias-sirc-acquires-60-of-plastic-recycling-company-masab\/801-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/801.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"801.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/801.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/801.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-76562\" class=\"content-area-description single-story post-76562 post type-post status-publish format-standard has-post-thumbnail hentry category-ma tag-enterpriseclimate tag-ma tag-masab tag-recycling tag-saudi-arabia tag-saudi-investment-recycling-company wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>SIRC becomes a majority shareholder in Masab: <\/strong>The Saudi Investment Recycling Company (<a href=\"https:\/\/sirc.sa\/?lang=en\">SIRC<\/a>) \u2014 a wholly owned subsidiary of KSA\u2019s sovereign wealth fund the Public Investment Fund \u2014 acquired a 60% share in Masab Plastic Factory Company, the <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=ar&newsid=2435826#2435826\">Saudi Press Agency<\/a> reported.<\/p>\n<p><strong>About Masab:<\/strong> Masab collects plastic scrap materials from households and <a href=\"https:\/\/www.recycleinme.com\/rim-masab\/home\">recycles them<\/a> into secondary raw materials (recycled materials that <a href=\"https:\/\/www.europarl.europa.eu\/legislative-train\/theme-new-boost-for-jobs-growth-and-investment\/file-strategy-for-secondary-raw-materials#:~:text='Secondary%2520raw%2520materials'%2520are%2520recycled,or%2520alongside%2520virgin%2520raw%2520materials.\">can be used in manufacturing processes<\/a>) mostly for export purposes. The company specializes in the export of <a href=\"https:\/\/www.recycletheone.com\/recycle-now\/how-does-pet-plastic-recycling-work\">PET flakes<\/a> \u2014 small fragments of plastic waste cut up and crushed, then heated and molded into a variety of shapes, usually plastic bottles. Masab caters to <a href=\"https:\/\/www.exporthub.com\/masab\/\">fiber and bottle manufacturers<\/a> in Australia, India, Thailand, Turkey, and the UK.<\/p>\n<p><strong>SIRC is on a roll:<\/strong> SIRC signed an agreement with Saudi Arabia\u2019s state-owned National Agricultural Development Company (Nadec) in February to jointly <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ba85875-28ad-4cd4-a389-6bbb40367a11\">recycle 400k tons of biowaste<\/a> annually with the goal of converting the refuse into organic fertilizers.<\/p>\n<p><strong>And there\u2019s plenty of plastic to recycle:<\/strong> Saudi Arabia alone accounts for over 67% of GCC plastic resins production, a market overview by the <a href=\"https:\/\/saudipp.com\/overview\/#:~:text=Saudi%20Arabia%20accounts%20for%20over,in%20the%20GCC....\">Saudi Plastics & Petrochemicals Trade Exhibition<\/a> revealed. The country also accounts for 61% of polymer demand in the GCC \u2014 the largest in the region. The consumer packaging industry is at the forefront of polymer use, with the construction sector trailing behind.<\/p>\n<p><strong>The move may help work toward KSA\u2019s Circular Carbon Economy National Program:<\/strong> The kingdom published targets to divert 82% of all landfill waste <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f09cd157-60c7-4f8c-8228-d6a5dbee4c0b\">in October<\/a>, earmarking USD 27-32 bn to recycle 42% and compost 35% of its waste by 2035. PIF intends to invest USD 11 bn by 2035 to increase recycling, <a href=\"https:\/\/sirc.sa\/about\/#goals\">with the support of SIRC<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/masab\/\">Masab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-investment-recycling-company\/\">Saudi Investment Recycling Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76564\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76564\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/\">\r\n                            USAID sets up a USD 20 mn fund to power Lebanese SMEs with solar energy                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=USAID sets up a USD 20 mn fund to power Lebanese SMEs with solar energy&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/&title=USAID sets up a USD 20 mn fund to power Lebanese SMEs with solar energy\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=USAID+sets+up+a+USD+20+mn+fund+to+power+Lebanese+SMEs+with+solar+energy+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F03%2F20%2Fusaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/30.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"76565\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/usaid-sets-up-a-usd-20-mn-fund-to-power-lebanese-smes-with-solar-energy\/30-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/30.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"30.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/30.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/30.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-76564\" class=\"content-area-description single-story post-76564 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-finance tag-climate-finance tag-enterpriseclimate tag-green-finance tag-lebanon tag-renewables tag-usaid wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a><strong> USAID launches fund to support Lebanese renewables development: <\/strong>The United States Agency for International Development (USAID) has launched a USD 20 mn Solar and Renewable Energy Fund to help spur private sector investments to finance the cost of solar power installations for Lebanese SMEs, the US embassy in Lebanon said in a <a href=\"https:\/\/lb.usembassy.gov\/u-s-ambassador-shea-announces-20-million-energy-fund-to-help-lebanese-entities-finance-renewable-energy-solutions\/\">statement<\/a> on Friday. The fund was created through USAID\u2019s Trade and Investment Facilitation (TIF) Activity and Lebanon Investment Initiative (LII), the statement notes.<\/p>\n<p><strong>Who\u2019s paying what: <\/strong>Through TIF and LII, USAID will commit USD 4 mn in seed funding and USD 500k to structure the fund with the remaining USD 15.5 mn drummed up from investors, the statement notes.<\/p>\n<p><strong>How it will help: <\/strong>The fund will help SMEs secure investments for renewable energy to maintain operations and boost export capacity, the statement notes. Up to 25 companies will benefit from the fund\u2019s resources in the first round of financing.<\/p>\n<p><strong>The battle against emissions and a dire power crisis: <\/strong>There has been a spike in the use of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/292b1af6-d8eb-4408-85b9-05ed1e530ac6\">diesel-powered generators<\/a> in Lebanon in recent years as a response to the power crisis, with levels of toxic emissions estimated to have quadrupled since the start of the country\u2019s economic crisis.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/usaid\/\">USAID<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76566\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76567\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76567\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ELECTRIC VEHICLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/japans-skydrive-heading-to-dubai-to-test-new-evtols\/\">\r\n                            Japan\u2019s SkyDrive heading to Dubai to test new eVTOLs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/japans-skydrive-heading-to-dubai-to-test-new-evtols\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The eVTOL is set to be rolled out in 2025.<\/p>\n<p><strong>Background:<\/strong> Vports signed in <a href=\"https:\/\/vports.com\/wp-content\/uploads\/2022\/12\/Press-release__VPorts_AAM-Integrator-Centre_FINAL-Eng.pdf\">December<\/a> a 25-year lease agreement with the UAE\u2019s General Civil Aviation Authority and the Mohammed bin Rashid Aerospace Hub to build a 37k square meter eVTOL flight testing site at an initial investment of USD 40 bn over the next three years. The center \u2014 which is expected to become operational in 2024 \u2014 is expected to generate some USD 7 bn in direct revenues over the lease\u2019s lifecycle.<\/p>\n<p><strong>eVTOLs are drawing interest in the <\/strong><strong>UAE<\/strong><strong>:<\/strong> Abu Dhabi-based charter flight operator Falcon Aviation Services partnered with electric aircraft company Eve Holding in April 2022 to supply <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1c3de527-158a-429a-bc72-3d3d5040a778\">35 flying taxis<\/a> with deliveries expected to start in 2026. Chinese eVTOL manufacturer AutoFlight signed this month a partnership agreement with airfleet management firm Evfly that will see it roll out 10 of its AutoFlight Prosperity I aircrafts in the UAE and Saudi Arabia, <a href=\"https:\/\/www.arabianbusiness.com\/industries\/transport\/saudi-uae-electric-aircraft-in-focus-as-chinas-autoflight-enters-middle-east\">Arabian Business<\/a> reported. The country also granted US logistics firm United Portal Services a temporary flight permit to conduct flight tests to trial its eVTOL fleet in the UAE, <a href=\"https:\/\/gulfnews.com\/business\/aviation\/uaes-regulation-lab-issues-license-for-electric-cargo-aircraft-to-ups-1.1678781185176\">Gulf News<\/a> reported this month.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/electric-vehicles\/\">ELECTRIC VEHICLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/skydrive\/\">SkyDrive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76569\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76569\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/air-products-qudra-to-build-neom-hydrogen-fueling-station-omans-beah-will-launch-biogas-waste-management-facilities-at-squ-plus-uae-launch-plant-based-meat-factory-and-circular\/\">\r\n                            Air Products Qudra to build Neom hydrogen fueling station + Oman\u2019s Be\u2019ah will launch biogas, waste management facilities at SQU, PLUS: UAE launch plant-based meat factory and Circular Packaging Association                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/air-products-qudra-to-build-neom-hydrogen-fueling-station-omans-beah-will-launch-biogas-waste-management-facilities-at-squ-plus-uae-launch-plant-based-meat-factory-and-circular\/&title=Air Products Qudra to build Neom hydrogen fueling station + Oman\u2019s Be\u2019ah will launch biogas, waste management facilities at SQU, PLUS: UAE launch plant-based meat factory and Circular Packaging Association\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Air+Products+Qudra+to+build+Neom+hydrogen+fueling+station+%2B+Oman%E2%80%99s+Be%E2%80%99ah+will+launch+biogas%2C+waste+management+facilities+at+SQU%2C+PLUS%3A+UAE+launch+plant-based+meat+factory+and+Circular+Packaging+Association+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F03%2F20%2Fair-products-qudra-to-build-neom-hydrogen-fueling-station-omans-beah-will-launch-biogas-waste-management-facilities-at-squ-plus-uae-launch-plant-based-meat-factory-and-circular%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/air-products-qudra-to-build-neom-hydrogen-fueling-station-omans-beah-will-launch-biogas-waste-management-facilities-at-squ-plus-uae-launch-plant-based-meat-factory-and-circular\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"76570\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/air-products-qudra-to-build-neom-hydrogen-fueling-station-omans-beah-will-launch-biogas-waste-management-facilities-at-squ-plus-uae-launch-plant-based-meat-factory-and-circular\/674-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"674.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-76569\" class=\"content-area-description single-story post-76569 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-biogas tag-enterpriseclimate tag-green-hydrogen tag-neom tag-oman tag-renewables tag-saudi-arabia tag-waste-management wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> Air Products Qudra to build Neom\u2019s first hydrogen fueling station: <\/strong>Air Products Qudra \u2014 a JV between US-based gas supplier Air Products and Qudra Energy \u2014 inked an agreement with Neom subsidiary Enowa to build, own, and operate Neom\u2019s first hydrogen fueling station, <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/air-products-qudra-signs-agreement-with-enowa-h36gez2z\">Zawya<\/a> reports. The timeline and investment ticket of the project were not disclosed. Air Products is also part of the JV developing Neom\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b25cd90-e450-47ee-b0a9-3f382940309e\">USD 8.5 bn<\/a> green hydrogen project alongside Saudi Arabia\u2019s Acwa Power and Neom.<\/p>\n<p><strong>Oman\u2019s Be\u2019ah <\/strong><strong>partners with <\/strong><strong>Sultan Qaboos University<\/strong><strong> on biogas and waste <\/strong><strong>management:<\/strong> The Oman Environmental Service Holding Company (Be\u2019ah) signed two agreements with the country\u2019s Sultan Qaboos University (SQU) to establish a waste recycling facility on SQU\u2019s campus in Muscat and develop an on-site waste-to-energy biogas production facility, <a href=\"https:\/\/omannews.gov.om\/topics\/en\/79\/show\/112183\/ona\">Oman News Agency<\/a> reported last week.<\/p>\n<p><strong>Details:<\/strong> The reuse center will repurpose single-use plastics and materials in a bid to minimize landfilling, the news agency notes. The biogas production plant\u2019s location, price tag, and planned launch date were not disclosed, but ONA notes the low-carbon fuel would be used for electricity and fertilizer production.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Saudi AgTech start-up <\/strong><strong><a href=\"https:\/\/redsea.ag\/\">Red Sea<\/a><\/strong> is partnering with Saudi\u2019s<strong> Public Investment <\/strong><strong>Fund <\/strong>to build<strong> greenhouses across 12 cities<\/strong> in the kingdom. The agreement will cover the joint design, development, and operation of the greenhouses in a bid to support sustainable agricultural practice. (<a href=\"https:\/\/www.tradearabia.com\/news\/CONS_407462.html\">Trade Arabia<\/a>) <\/li>\n<li><strong>UAE food manufacturer <\/strong><strong><a href=\"https:\/\/iffco.com\/\">IFFCO Group<\/a><\/strong> opened <strong>the region\u2019s first plant-based <\/strong><strong>beef factory in Dubai.<\/strong> The Thryve factory is expected to support a more sustainable food supply chain through innovation. (<a href=\"https:\/\/wam.ae\/en\/details\/1395303140112\">Statement<\/a>)<\/li>\n<li><strong>The UAE\u2019s new Circular Packaging Association (CPA)<\/strong> made its formal debut on Saturday. The CPA aims to lessen the industry\u2019s environmental effects by<strong> limiting waste and advancing the circular economy<\/strong>. (<a href=\"https:\/\/www.wam.ae\/en\/details\/1395303139727\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/biogas\/\">Biogas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76571\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76571\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/opec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs\/\">\r\n                            OPEC Fund funneled 75% of funding to climate-focused projects + Siemens Energy is after a full acquisition of Siemens Gamesa, PLUS: Mercedes plans a shift to EVs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/opec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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funneled 75% of funding to climate-focused projects + Siemens Energy is after a full acquisition of Siemens Gamesa, PLUS: Mercedes plans a shift to EVs&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/opec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/opec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs\/&title=OPEC Fund funneled 75% of funding to climate-focused projects + Siemens Energy is after a full acquisition of Siemens Gamesa, PLUS: Mercedes plans a shift to EVs\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=OPEC+Fund+funneled+75%25+of+funding+to+climate-focused+projects+%2B+Siemens+Energy+is+after+a+full+acquisition+of+Siemens+Gamesa%2C+PLUS%3A+Mercedes+plans+a+shift+to+EVs+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F03%2F20%2Fopec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/opec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/771.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"76572\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/opec-fund-funneled-75-of-funding-to-climate-focused-projects-siemens-energy-is-after-a-full-acquisition-of-siemens-gamesa-plus-mercedes-plans-a-shift-to-evs\/771-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/771.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"771.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/771.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/771.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-76571\" class=\"content-area-description single-story post-76571 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-enterpriseclimate tag-finance tag-ma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Three out of four projects approved by the OPEC Fund for International <\/strong><strong>Development (OFID) in 1Q 2023 were climate-focused<\/strong>, according to a <a href=\"https:\/\/opecfund.org\/media-center\/press-releases\/2023\/opec-fund-approves-over-us-300-million-in-new-financing-and-delivers-on-its-climate-action-plan\">statement<\/a> released last week. OFID revealed its climate action investment <a href=\"https:\/\/opecfund.org\/media-center\/press-releases\/2022\/opec-fund-adopts-first-climate-action-plan-doubles-targets-by-2030\">strategy<\/a> last September, aiming to channel 40% of all new financing into climate mitigation and resilience projects in the energy, smart city, food and water security, and transport sectors.<\/p>\n<p><strong>The details: <\/strong>OFID provided a EUR 50 mn loan to Armenia to fund climate mitigation and energy efficiency projects in the country, the statement notes. The fund also greenlit a similar USD 150 mn loan to Colombia, and a USD 20 mn green financing facility to bolster climate action-focused reforms for land development, consumer data protection, and fishing regulations in the Seychelles. OFID also backed a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/19863568-261d-485b-b490-816e98ca50d5\">USD 25 mn loan<\/a> to back Niger\u2019s Solar Plant Development and Electricity Access Improvement Project (RANAA) earlier this month in a bid to boost renewables in the West African country.<\/p>\n<p><strong>Siemens Energy drums up capital to acquire Gamesa:<\/strong> Siemens Energy sold shares worth USD 1.33 bn to institutional investors in a bid to drum up capital to finalize its acquisition of wind turbine maker Siemens Gamesa, <a href=\"https:\/\/www.reuters.com\/business\/energy\/siemens-energy-announces-capital-increase-via-accelerated-bookbuild-2023-03-15\/\">Reuters<\/a> reported last week. Siemens sold some 72.7 mn shares at EUR 17.32 apiece last week to help fund the EUR 4 bn takeover, the newswire notes. Siemens Energy currently holds nearly 97.8% of Gamesa\u2019s share capital, according to a <a href=\"https:\/\/www.siemensgamesa.com\/en-int\/investors-and-shareholders\/share-and-dividend#:~:text=Siemens%20Gamesa%20Renewable%20Energy%2C%20S.A.,97.79%25%20of%20the%20share%20capital.\">statement<\/a>.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Mercedes plans to spend USD bns<\/strong> to upgrade its factories in China, Germany, and Hungary to prepare for its <strong>full transition to EVs by 2035<\/strong>. (<a href=\"https:\/\/www.reuters.com\/article\/mercedes-production-electric-idAFL1N35R05M\">Reuters<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma\/\">M&amp;A<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76573\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"76573\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/lab-engineered-bacteria-presents-alternative-to-polluting-textile-dyes\/\">\r\n                            Lab engineered bacteria presents alternative to polluting textile dyes                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/lab-engineered-bacteria-presents-alternative-to-polluting-textile-dyes\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Colorifix\u2019s method cuts down 81% in water use and 41% on natural gas, according to an environmental impact <a href=\"https:\/\/colorifix.com\/app\/uploads\/2022\/12\/colorifix-environmental-impact.pdf\">analysis<\/a> prepared for the company last year. The fast fashion industry is responsible for one-fifth of industrial water pollution globally due to its damaging dyeing and treatment processes, according to a <a href=\"https:\/\/emf.thirdlight.com\/file\/24\/uiwtaHvud8YIG_uiSTauTlJH74\/A%20New%20Textiles%20Economy%3A%20Redesigning%20fashion%E2%80%99s%20future.pdf\">report<\/a> by the Ellen MacArthur Foundation.<\/p>\n<p><strong>How do they do it? <\/strong>Colorifix digitally sources color pigments from the DNA sequence of natural materials \u2014 such as feathers, insects and plants \u2014 and engineers bacteria to produce the same color, according to Bloomberg. The bacteria is then fed water, sugar, yeast, and plant byproducts to ferment it. Within a couple of days the bacteria generates a large volume of dye liquor, and is already proposed for commercial applications.<\/p>\n<p><strong>The fashion industry is interested: <\/strong>H&M is exploring the potential of using Colorifix\u2019s technology, Bloomberg reports, and Pangaia and Stella McCartney previously produced pieces using Colorifix dye. The company also supplies dye houses in Bosnia, Italy, and Portugal, and is soon expanding into Turkey, India, and Sri Lanka.<\/p>\n<p><strong>The region is a manufacturing powerhouse for the fast-fashion industry:<\/strong> In a rundown of the region\u2019s textile manufacturing capacity, <a href=\"https:\/\/fashiontrustarabia.com\/from-silk-road-to-textile-hub\/\">Fashion Trust Arabia<\/a> identified Jordan, Egypt, Algeria, Morocco, Syria, UAE, Egypt, and Tunisia as having some of the world\u2019s largest textile hubs. The UAE has the region's largest textile factory making it a crucial textile hub in the world, and Egypt has over 7k garment and textile factories \u2014 50% to 80% of which is exported to the US, and the rest to EU and Arab markets.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fashion\/\">fashion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/textiles\/\">textiles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"76575\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/20\/76575\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-76575\" class=\"content-area-description single-story post-76575 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>MARCH 2023<\/strong><\/p>\n<p>22-24 March (Wednesday-Friday): <a href=\"https:\/\/en.keyenergy.it\/k.ey-2023\/about\/discover-the-fair\">K.ey - The Energy Transition Expo<\/a>, Rimini Expo Centre, Emilia-Romagna, Italy.<\/p>\n<p>22-24 March (Wednesday-Friday): <a href=\"https:\/\/sdgs.un.org\/conferences\/water2023\">UN 2023 Water Conference<\/a>, New York, NY, United States.<\/p>\n<p>27-29 March (Monday-Wednesday): First Meeting of the Transitional Committee in Egypt focusing on Adaptation and Loss and Damage.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>6 April (Thursday): Arabia CSR Awards 2022 Clinic (online).<\/p>\n<p>18-19 April (Tuesday-Wednesday): International Conference on Green Energy and Environmental Technology (ICGEET), Dubai, UAE.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1-4 May (Monday-Thursday): <a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\">Arabian Travel Market<\/a>, Dubai, UAE.<\/p>\n<p>2-7 May (Tuesday-Sunday): <a href=\"https:\/\/www.agriculture.gov.ma\/ar\/actualites\/tnzym-almltqy-aldwly-llflaht-balmghrb-mn-02-aly-07-may-2023-bmknas\">Salon International de l\u2019Agriculture au Maroc (SIAM)<\/a>, Meknes, Morocco.<\/p>\n<p>4-6 May (Thursday-Saturday): International 100% Renewable Energy Conference (<a href=\"https:\/\/10times.com\/irenec\">IRENEC<\/a>), Istanbul, Turkey.<\/p>\n<p>8-10 May (Monday-Wednesday): Global Green Future Fuel, Dubai, UAE.<\/p>\n<p>9 May (Tuesday): <a href=\"https:\/\/www.world-hydrogen-summit.com\/programme\/\">World Hydrogen 2023 Summit & Exhibition<\/a>, Rotterdam, Netherlands.<\/p>\n<p>9-10 May (Tuesday-Wednesday): <a href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-mena\/\">The Solar Show MENA<\/a>, Cairo, Egypt.<\/p>\n<p>16-18 May (Tuesday-Thursday): <a href=\"https:\/\/www.seatrademaritime-middleeast.com\/en\/home.html\">Seatrade Maritime Logistics Middle East<\/a>, Dubai, UAE.<\/p>\n<p>29-31 May (Monday-Wednesday): <a href=\"https:\/\/www.evinnovationsummit.com\">Electric Vehicle Innovation Summit<\/a>, Abu Dhabi, UAE.<\/p>\n<p>30 May-1 June (Tuesday-Thursday): <a href=\"https:\/\/www.timeshighered-events.com\/gsd-congress-2023\">Global Sustainable Development Congress<\/a>, King Abdullah University of Science and Technology (KAUST), KSA.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>1-3 June (Thursday-Saturday): <a href=\"http:\/\/www.envirotecener-expo.com\/\">Envirotec and Energie Expo<\/a>, Tunis, Tunisia.<\/p>\n<p>12-15 June (Monday-Thursday): <a href=\"https:\/\/saudipp.com\/\">Saudi Plastics & Petrochem<\/a>, Riyadh, KSA.<\/p>\n<p>13-14 June (Tuesday- Wednesday) <a href=\"https:\/\/thearabgreensummit.com\/\">The Arab Green Summit<\/a>, Dubai, UAE.<\/p>\n<p>13-14 June (Tuesday- Wednesday) <a href=\"https:\/\/www.bloombergneweconomy.com\/gateway-africa\/\">Bloomberg New Economy Gateway Africa Conference<\/a>, Marrakesh, Morocco.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>3-7 July (Monday-Friday): <a href=\"https:\/\/aic2023.geo.unibuc.ro\/en\/\">The 36th Conference of the International Association of Climatology<\/a>, Bucharest, Romania.<\/p>\n<p><strong>AUGUST 2023<\/strong><\/p>\n<p>20 August-24 August (Sunday-Wednesday): <a href=\"https:\/\/www.worldwaterweek.org\/\">World Water Week 2023<\/a>, Stockholm, Sweden.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>9-20 September (Saturday-Wednesday): <a href=\"https:\/\/www.un.org\/en\/conferences\/SDGSummit2023\">2023 Sustainable Development Goals Summit<\/a>, New York, U.S..<\/p>\n<p>11-13 September (Monday-Wednesday): Global Congress on Renewable and Non-Renewable Energy, Dubai, UAE.<\/p>\n<p><a href=\"https:\/\/www.chariotenergygroup.com\/\">Chariot Limited<\/a> and <a href=\"https:\/\/www.total-eren.com\/\">Total Eren<\/a>\u2019s feasibility study on a 10 GW green hydrogen plant in Mauritania to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f1323428-033c-4ff9-a0b6-716f87613360\">be completed<\/a>.<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>2-4 October (Monday-Wednesday): <a href=\"https:\/\/www.showsbee.com\/fairs\/84868-WETEX-2023.html\">WETEX and Dubai Solar Show<\/a>, Dubai, UAE.<\/p>\n<p>4 October (Wednesday): Arabia CSR Gala Awarding Ceremony, UAE.<\/p>\n<p>16-18 October (Monday-Wednesday): <a href=\"https:\/\/www.climatelinks.org\/events\/climate-week-2022-2nd-world-conference-climate-change-sustainability\">Climate Week<\/a>, Rome, Italy.<\/p>\n<p>31 October \u2013 2 November (Tuesday-Thursday): <a href=\"https:\/\/www.worldhydropowercongress.org\/\">World Hydropower Conference<\/a>, Bali, Indonesia.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>9-10 November (Thursday-Friday): <a href=\"https:\/\/www.irena.org\/News\/pressreleases\/2023\/Mar\/IRENA-To-Hold-First-Latin-American-Investment-Forum-in-Uruguay\">International Renewable Energy Agency Investment Forum<\/a>, Uruguay.<\/p>\n<p>30 November - 12 December: <a href=\"https:\/\/unfccc.int\/\">Conference of the Parties (COP 28)<\/a>, Dubai, UAE.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/p>\n<p><strong>End-2022 <\/strong><\/p>\n<p>KSA\u2019s Neom wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/41c4acda-ffa5-4e25-ae17-48b53fc7df69\">tender three concrete water reservoir<\/a> projects to up its water storage capacity by 6 mn liters.<\/p>\n<p><strong>2023 <\/strong><\/p>\n<p>Early 2023: Egypt\u2019s <a href=\"https:\/\/www.karmsolar.com\/\">KarmSolar<\/a> to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">launch KarmCharge<\/a>, the company\u2019s EV charging venture.<\/p>\n<p>1Q2023: Oman will award two blocks of land for green hydrogen projects in Duqm, Oman.<\/p>\n<p>Mid-2023: Sale of Sembcorp Energy India Limited to consortium of Omani investors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dbe558b6-6166-404f-8aa3-2bd7b56647dd\">to close<\/a>.<\/p>\n<p>Phase C of the 900-MW of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2f525f9-dc10-477e-a2d5-67e7d6d790c2\">be completed<\/a>.<\/p>\n<p>Saudi Basic Industries Corporation (<a href=\"https:\/\/www.sabic.com\/en\">Sabic<\/a>) steam cracker furnace powered by renewable energy to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c6bbb030-2107-4aec-bc3c-9dfbe4d55975\">come online<\/a>.<\/p>\n<p>4Q2023: Oman to award four blocks of land for green hydrogen projects in Thumrait, Oman.<\/p>\n<p><strong>2024 <\/strong><\/p>\n<p>End-2024: Emirati <a href=\"http:\/\/ar.ae\">Masdar<\/a>\u2019s 500 MW wind farm in Uzbekistan to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\">begin commercial operations<\/a>.<\/p>\n<p><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s industrial cities solar power project <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">will start electricity<\/a> production.<\/p>\n<p>First 1.5 GW phase of Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">be operational<\/a>.<\/p>\n<p><strong>2025 <\/strong><\/p>\n<p>Second 1.5 GW phase of Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">be operational<\/a>.<\/p>\n<p>UAE to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\">have over 1k<\/a> EV charging stations installed.<\/p>\n<p><strong>2026 <\/strong><\/p>\n<p>1Q 2026: <a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s USD 1 bn blue ammonia plant <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">to be completed<\/a>.<\/p>\n<p>End-2026: HSBC Bahrain to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\">eliminate single-use<\/a> PVC plastic cards.<\/p>\n<p>Iraq\u2019s <a href=\"http:\/\/www.massgroupholding.com\/English\/default.aspx\">Mass Group Holding<\/a> wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0239be52-0fa8-43fd-8db9-68f967fb1529\">invest EUR 1 bn<\/a> on its thermal plant Mintia in Romania to have 62% of run on renewable energy, while expanding its energy capacity to at least 1.29k MWh.<\/p>\n<p><strong>2027<\/strong><\/p>\n<p>MENA\u2019s district cooling market is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\">expected to reach<\/a> USD 15 bn.<\/p>\n<p><strong>2030 <\/strong><\/p>\n<p>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">provide AED 35 bn<\/a> in green financing.<\/p>\n<p>UAE <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\">targets 14 GW<\/a> in clean energy capacity.<\/p>\n<p>Tunisia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">targets 30%<\/a> of renewables in its energy mix.<\/p>\n<p>Qatar wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\">generate USD 17 bn<\/a> from its circular economy, creating 9k-19k jobs.<\/p>\n<p>Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">generate 10.5 GW<\/a> of energy.<\/p>\n<p><strong>2035 <\/strong><\/p>\n<p>Qatar to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">capture up to 11 mn tons<\/a> of CO2 annually.<\/p>\n<p><strong>2045 <\/strong><\/p>\n<p>Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity.<\/p>\n<p><strong>2060 <\/strong><\/p>\n<p>Nigeria aims to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">achieve its net-zero<\/a> emissions target.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":76558,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-76557","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"922bf468-3d9c-4141-bf0e-64aa6670e8d2","teaser":"","photo_url":"https:\/\/ent.news\/2023\/4\/130.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saudi Investment Recycling Company acquires 60% of plastic recycling company Masab - Climate<\/title>\n<meta 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