Riyadh - Sharikat Mubasher: The Saudi Investment Recycling Company (SIRC), a wholly-owned subsidiary of the Public Investment Fund (PIF), signed an agreement with Suez, a global leader in the water and waste management sectors based in France, to advance the recycling economy in Saudi Arabia.

The agreement was signed on the sidelines of the Saudi Green Initiative (SGI) Forum which took place in Riyadh on 3 and 4 December.

A few months ago, SIRC’s Chairman of the Board of Directors Khalid Al-Salem met with Sabrina Soussan, Chairwoman of the Board of Directors of Suez, to discuss potential cooperation opportunities between both entities.

Suez is one of the leading environmental services companies worldwide, with investments exceeding 10 billion euros in several countries, including France, the United States, and China.

The SGI was held alongside the 16th Conference of the Parties to the United Nations Convention to Combat Desertification (UNCCD COP16). It gathered policymakers, business leaders, and environmental experts to discuss and advance climate resilience and sustainability. Key themes included land restoration, clean energy innovation, climate finance, nature-based solutions, and biodiversity protection.