PIF's SIRC acquires 60% of Masab Plastic Factory

18/03/2023 Argaam
Logo ofSaudi Investment Recycling Co. (SIRC)

Logo of Saudi Investment Recycling Co. (SIRC)

Saudi Investment Recycling Co. (SIRC), which is wholly owned by the Public Investment Fund (PIF), signed an agreement to acquire 60% of Masab Plastic Factory Co.

 

The agreement was signed on the sidelines of PIF's Private Sector Forum, which discussed investment opportunities in several sectors, including the recycling.

 

This deal aims to support the company's plan to establish a true partnership with the private sector, Saudi Press Agency reported.

 

SIRC seeks, through its partnership with the private sector in general, and Masab in particular, to enhance its presence in the field of plastic recycling. It also aims to establish a real partnership with the private sector to develop the recycling industry.

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