{"id":87544,"date":"2024-07-03T00:00:00","date_gmt":"2024-07-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/03\/pif-owned-sirc-launches-waste-to-fuel-project-looks-to-benefit-from-plastic-credits\/"},"modified":"2024-07-03T00:00:00","modified_gmt":"2024-07-03T00:00:00","slug":"pif-owned-sirc-launches-waste-to-fuel-project-looks-to-benefit-from-plastic-credits","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/03\/pif-owned-sirc-launches-waste-to-fuel-project-looks-to-benefit-from-plastic-credits\/","title":{"rendered":"PIF-owned Sirc launches waste-to-fuel project, looks to benefit from plastic credits"},"content":{"rendered":"

<\/strong>S<\/strong>audi gets \u201ctransformative\u201d waste-to-fuel project:<\/strong> A joint venture between the Saudi Investment Recycling Company (Sirc) \u2014 a wholly owned subsidiary of the Public Investment Fund \u2014 and German waste management firm MVW Lechtenberg & Partner Middle East<\/a> along with Norwegian blockchain firm Empower<\/a> have launched a waste-to-fuel plant, Trade Arabia<\/a> reports. <\/p>\n

What we know: <\/strong>The project aims to process some 3 mn tons of municipal solid waste per year to produce refuse-derived fuels (RDF) in six governorates. The fuel will be acquired by six cement producers estimated to have a total cement clinker production capacity of 20 mn tons per year. Some 35% of the processed waste will be converted to RDF, while 14% will be recycled. It is set to slash carbon dioxide emissions by 1.8 mn tons per year when fully operational.<\/p>\n

REFRESHER- What\u2019s RDF?<\/strong> <\/span>RDF is a type of fuel<\/a> produced from various forms of waste including non-recyclable plastics and tyres as well as biodegradable matter. Non-combustible materials are separated from the burnable waste, which then gets shredded and burned. <\/span>This is the <\/strong>second time<\/a><\/strong> Sirc and MVW Lechtenberg have worked on RDF together.<\/span><\/p>\n

How it works: <\/strong>Empower is providing blockchain technology<\/a> track the waste from collection to burning \u2014 important if the backers want to claim a green footprint for the project. It will integrate plastic credits<\/a> certified by GPN Corporation\u2019s GPx traceability standard.<\/p>\n

Uh, plastic credits, Enterprise? <\/strong>Plastic credits are a financing mechanism<\/a> that give companies incentives to keep or take plastics out of the environment. By certifying that it is pulling a certain amount of plastic out of the environment, Sirc-Lechtenberg project can then sell plastic credits to any company that produces plastic, allowing the latter to offset that part of its production.<\/p>\n

Sirc is on a roll: <\/strong>The PIF-owned company signed an MoU<\/a> earlier this month with Greece\u2019s Hellenic Environmental Center to establish environmental treatment centers for ship recycling services in Saudi. It acquired a 60% share<\/a> in Masab Plastic Factory Company last year. Its global environmental services management company Reviva<\/a> also partnered with the Saudi Ports Authority to establish a recycling complex<\/a> for marine and industrial waste at Jeddah Islamic Port.<\/p>\n","protected":false},"excerpt":{"rendered":"

The plant will process around 3 mn tonnes of municipal solid waste annually<\/p>\n","protected":false},"author":1,"featured_media":87545,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2856],"tags":[2301,10,2302,2303,1151,2300,2865,1138],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-waste-management","tag-empower","tag-enterpriseam-ksa","tag-mvw-lechtenberg","tag-plastics","tag-public-investment-fund-pif","tag-saudi-investment-recycling-company-sirc","tag-waste","tag-waste-management","wpautop","entry"],"acf":{"mongo_id":"2aa3a316-f619-485f-952e-d9e88e7ea465","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2051.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF-owned Sirc launches waste-to-fuel project, looks to benefit from plastic credits","related_issue":[87537],"teaser":"The plant will process around 3 mn tonnes of municipal solid waste annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.76e80892-303b-44d8-a58c-d0305286403e.mp3"},"yoast_head":"\nPIF-owned Sirc launches waste-to-fuel project, looks to benefit from plastic credits - 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