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  2. SIRC pacts with THC to advance sustainability in aviation sector

SIRC pacts with THC to advance sustainability in aviation sector

NOHA.GAD
Jan 20, 2025
SIRC and The Helicopter Company signed an MoU to advance sustainability in aviation sector

Riyadh - Sharikat Mubasher: The Helicopter Company (THC), a premier commercial helicopter operator in Saudi Arabia, signed a memorandum of understanding (MoU) with the Saudi Investment Recycling Company (SIRC) to advance sustainable aviation initiatives.

This partnership aims to enhance waste management and recycling practices in addition to promoting a greener environment in alignment with Saudi Vision 2030, THC announced in a recent statement.

The MoU reflects the shared commitment of both parties to providing sustainable aviation solutions and advanced services that contribute to reducing the environmental impact. It also targets promoting technology-driven operations and helping THC expand its scope to cover new sectors.

Arnaud Martinez, CEO of THC, emphasized the company’s dedication to effectively reducing the carbon footprint of its operations.

He noted that the agreement aims to transform ambitious ideas into tangible achievements that contribute to creating a sustainable future for the aviation industry.

In turn, Ziyad Alshiha, CEO of SIRC, stated that the collaboration aims to drive innovation, reduce emissions, ensure long-term environmental safety for the sector, and promote a sustainable future, ultimately positioning Saudi Arabia at the forefront of the global green economy.

THC, wholly owned by the Public Investment Fund (PIF), aims to activate new sectors in Saudi Arabia in line with Vision 2030 by creating a new ecosystem for general aviation services and introducing safe and efficient transport services across the Kingdom.

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Aviation sector
Sustainability
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Carbon footprint
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MISA pacts with Future Play to back Korean startups entering Saudi Arabia
Riyadh - Sharikat Mubasher: Saudi Arabia’s Ministry of Investment (MISA) signed a memorandum of understanding (MoU) with Future Play, a South Korea-based investment and accelerator firm, to support Korean startups entering into Saudi market.This agreement is the first MoU signed by Korean venture capital with MISA and aims to foster joint investment and founders between the two countries, the company announced in a statement today.Through this partnership, Future Play and Korean startups will be able to connect more closely with the local ecosystem of Saudi Arabia. Both sides will jointly invest with strategic partners in major areas such as healthcare, fintech, logistics, AI, and advanced manufacturing, and jointly develop a 'Saudi Stars' program to discover and foster promising Saudi founders.An official from MISA affirmed that the agreement is expected to significantly contribute to the Kingdom’s industrial diversification and development of innovative industries.Meanwhile, Kwon Oh-hyung, CEO of Future Play, commented: “This agreement is an important bridgehead for Korean innovative startups to enter new markets in the Middle East and a meaningful starting point for contributing to the creation of a new startup ecosystem in Saudi Arabia.”Future Play supports entrepreneurs preparing for global expansion, such as overseas business development, global network construction, and subsequent investment attraction. It focuses on technology, lifestyle, entertainment, and platform startups.
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