Saudi Investment Recycling Company

What Saudi Investment Recycling Company does

Saudi Investment Recycling Company (SIRC), founded in 2017 and headquartered in Riyadh, is a wholly-owned subsidiary of Saudi Arabia's Public Investment Fund (PIF) operating as the national platform for circular economy and waste management services aligned with Vision 2030. The company is structured as a holding entity over seven specialized subsidiaries, each addressing a distinct waste stream: Yadoum (municipal solid waste, including Refuse-Derived Fuel production for cement industries and a 51% stake in Masab plastic recycling), Akam (construction and demolition waste, processing 16.1 million tons in 2022 with a 3,600-truck daily fleet across three sites), ELECTA (e-waste and metal recycling, with a 60% stake in EADA), Azyat (lubricant and used cooking oil management, with a 51% stake in Unilube), Wazeen (medical hazardous waste treatment across Riyadh, Dammam, and Jeddah covering 55,000 sqm, utilizing incineration and autoclave dual-treatment architecture), REVIVA (industrial hazardous waste management, processing 600,000 tons in 2022), and SAIL (marine environmental services including oil spill response).

SIRC generates revenue through transaction-fee and contract-based services across its subsidiary network, serving a customer base concentrated in Saudi government, municipal authorities, and large industrial clients. The go-to-market model is direct B2B and B2G engagement, supplemented by strategic technology partnerships (notably with InEnTec for plasma-based waste-to-hydrogen and SAF conversion) and industry-event participation (IFAT Saudi Arabia, Seatrade Maritime). Capital intensity is high, with cumulative disclosed subsidiary investments exceeding SAR 160M (Akam), SAR 54M (ELECTA), SAR 39M (EADA acquisition), and SAR 23.68M (Unilube acquisition), funded through PIF balance-sheet support. Operational headquarters and most subsidiaries are based in Riyadh, with significant operational footprint in Jeddah and Dammam.

The business is mission-driven rather than purely commercial, mandated to deliver Vision 2030's circular economy and Saudi Green Initiative targets including a 94% landfill diversion goal by 2035. Strategic positioning emphasizes national-champion status, vertical specialization across seven waste streams, and progressive buildout of adjacent capabilities such as waste-to-hydrogen, sustainable aviation fuel, and consumer-facing reverse-vending partnerships. Leadership includes Eng. Khaled Alrashed (Group CEO), H.E. Eng. Khalid Mohammed AlSalem (Chairman), H.E. Abdulrahman Al-Fadhli (leader of SAIL and Saudi Minister of Environment, Water and Agriculture), and an international board including Mr. Ian Price and Dr. Bob Robinson Maughon.

Name

Saudi Investment Recycling Company

Legal name

Saudi Investment Recycling Company

Website

https://sirc.sa

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Saudi Investment Recycling Company (SIRC) is a PIF-owned national platform operating seven specialized subsidiaries that deliver municipal, construction, electronic, medical, industrial, and marine waste management services across Saudi Arabia under Vision 2030.

Ownership category

akta.pro rank

Product category

Waste Management and Recycling Services

NAICS

Waste Collection (5621), Hazardous Waste Treatment and Disposal (562211), Materials Recovery Facilities (562920), Waste Treatment and Disposal (5622)

SIC

Refuse Systems (4953), Hazardous Waste Management (4955)

akta.pro primary industry

Solvent Recovery & Hazardous Waste Recycling/Reclamation (Distillation, Reuse) (BPALAFAH)

akta.pro secondary industries

Universal Waste Management (Batteries, Lamps, Mercury-Containing) (BPALAHAL), Hazardous Waste & Universal Waste Handling (Batteries, Lamps, Aerosols) (BPABALAE), Waste & Hazardous Materials Management (incl. HazMat) (BPAHAJAK)

Keywords

• Waste management services
• Recycling services
• Circular economy solutions
• Hazardous waste treatment
• Municipal solid waste

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Waste Processing Services: SIRC generates revenue through its network of subsidiaries that process various types of waste. Subsidiaries include Yadoum (municipal solid waste), Akam (construction and demolition waste), ELECTA (electronic and metal waste), Azyat (lubricant waste), Wazeen (medical waste), REVIVA (industrial hazardous waste), and SAIL (marine environmental services).
2. Subsidiary Revenue: SIRC's subsidiaries generate revenue independently. Akam achieved SAR 39 million in 2022 (from SAR 2.7 million in 2021), and ELECTA achieved SAR 63 million in revenue with SAR 22 million EBT.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Saudi Investment Recycling Company (SIRC) operates a national waste management and circular economy platform through seven specialized subsidiaries covering municipal solid waste (Yadoum), construction and demolition waste (Akam), electronic and metal waste (ELECTA), lubricant waste (Azyat), medical hazardous waste (Wazeen), industrial hazardous waste (REVIVA), and marine environmental services (SAIL). The company provides waste collection, recycling, treatment, transportation, and disposal services to government entities, municipalities, and industrial clients across Saudi Arabia.

Product overview

SIRC operates as a diversified waste management platform comprising seven specialized subsidiaries covering distinct waste streams: Yadoum (municipal solid waste), Akam (construction and demolition waste), ELECTA (electronic and metal waste), AZYAT (lubricant and cooking oil waste), Wazeen (medical hazardous waste), REVIVA (industrial hazardous waste), and SAIL (marine environmental services). This subsidiary network enables SIRC to provide comprehensive circular economy solutions across the entire waste management value chain.

Differentiator

Problem solved

Functional benefit

Products and services

• Yadoum (Municipal Solid Waste Recycling Company) Municipal Solid Waste Recycling Company under SIRC focused on transforming municipal waste into valuable resources through Refuse-Derived Fuel (RDF) production for cement industries, sustainability parks across major Saudi cities, agricultural waste composting with EDAMA and NADEC, and plastic recycling via 51% stake in Masab. Serves municipalities and industrial off-takers (cement producers).
• Akam (Construction and Demolition Waste Recycling Company) Construction and Demolition Waste Management company processing 16.1 million tons of waste in 2022 across three sites with a fleet of 3,600 trucks daily, with over SAR 160 million invested in four locations. Serves construction contractors, infrastructure developers, and Vision 2030 mega-project operators.
• ELECTA (Metal Recycling Company for Environmental Services) Metal Recycling Company specializing in waste electrical and electronic equipment (WEEE) and metal scrap collection, recycling, and trading, including a 60% acquisition of EADA (SAR 39 million investment) and campaigns that recycled 70,000 electronic devices (170 tons). Achieved SAR 63 million revenue and SAR 22 million EBT. Serves corporates, telecom operators, retailers, and government agencies.
• Azyat (Oil Management Company) Oil Management Company for lubricant waste and used cooking oil management, with a 51% stake in Unilube (used lubricant oil collection) involving 47 staff, 5 collection centers, and 34 trucks (SAR 23.68 million investment), and plans to develop 5 Used Cooking Oil collection centers. Serves industrial and commercial lubricant users.
• Wazeen (Medical Waste Treatment Company) Medical Waste Treatment Company providing comprehensive medical hazardous waste (MHW) services including collection, transportation, treatment, recycling, and final disposal. Uses a dual treatment approach: Incineration for toxic, pharmaceutical, and liquid waste (targeting 35% market share, 4,000 tons/year) and Autoclave sterilization for sharps and infectious waste (targeting 35% market share, 17,000 tons/year). Operates 55,000 sqm of facilities in Riyadh, Dammam, and Jeddah with smart digital tracking. Serves hospitals, clinics, and laboratories.
• REVIVA (Global Environmental Management Services) Industrial Hazardous Waste Management company providing integrated environmental services including advanced cleaning, maintenance, waste collection, transport/logistics, rapid response and cleanup, and laboratory facilities. Processed 600,000 tons of industrial waste in 2022. Serves industrial manufacturers, petrochemical plants, and refineries.
• SAIL (Marine Operations for Environmental Services)

Quantifiable outcome

• Processed 16.1 million tons of construction and demolition waste in 2022
• +3 more outcomes

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Hydrogen Utopia InternationalcoreTechnology or Integration · 31 January 2026MoU signed during IFAT Saudi Arabia 2026 in Riyadh to explore deploying waste-to-hydrogen and Sustainable Aviation Fuel (SAF) production technology. The collaboration will evaluate InEnTec's Plasma Enhanced Melter technology to convert non-recyclable plastic waste into synthesis gas for hydrogen extraction and SAF production. Represents an early-stage framework for potential commercial-scale facilities.
• Nova (Health Water Bottling Company)minorStrategic or Co-development PartnerMoU signed to promote recycling and waste reduction in Saudi Arabia. Partnership aims to increase recycling rates and foster a circular economy through initiatives such as reverse vending machines and awareness campaigns, aligning with Saudi Vision 2030.
• FlynasminorStrategic or Co-development PartnerPartnership for waste management services with Saudi Arabia's leading low-cost airline. Flynas achieved significant environmental milestones reducing over 161,000 tonnes of CO2 emissions through fleet modernization.
• HORMUZminorStrategic or Co-development PartnerStrategic MoU signed through SAIL subsidiary at Seatrade Maritime Logistics Middle East 2025 in Dubai for marine environmental services collaboration.
• Alawalya QatarminorStrategic or Co-development PartnerAkam signed cooperation agreement with Alawalya Qatar for Primary Materials to collaborate in the recycling sector, representing cross-border recycling partnerships in the GCC.
• ENRESTECminorStrategic or Co-development PartnerREVIVA signed joint cooperation agreement with ENRESTEC (specialized tire recycling company) and Hama Saudi Holding for recycling damaged and worn-out tires.
• EDAMAminorStrategic or Co-development PartnerPartnership with EDAMA and NADEC to produce specialized compost from agricultural waste (cattle manure), addressing agricultural waste through innovative composting solutions.
• NADEC (National Agricultural Development Company)minorStrategic or Co-development PartnerJoint initiative with EDAMA and NADEC to produce specialized compost from agricultural waste, creating value from cattle manure and addressing agricultural waste challenges.
• CST (Communications, Space & Technology Commission)minorStrategic or Co-development PartnerELECTA partnered with CST in campaigns that contributed to recycling 70,000 electronic devices (170 tons), promoting electronic waste awareness.
• MWAN (National Center for Waste Management)minorStrategic or Co-development PartnerELECTA collaborated with MWAN in campaigns for recycling 70,000 electronic devices, supporting national waste management objectives.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Beeah Group: UAE-based integrated waste management and circular economy company operating across MSW, C&D, hazardous, and e-waste streams. Closest regional peer to SIRC: similar PIF-equivalent (Sharjah government) backing, multi-subsidiary structure, and Vision-aligned national mandate, but operating in UAE rather than Saudi Arabia.
• Tatweer Construction & Waste Services: Saudi-based provider of waste collection, transportation, and C&D waste management. Direct domestic competitor to SIRC's Akam subsidiary for C&D waste contracts in Saudi Arabia.
• National Environment Management Company (NEMCO) - Kuwait: Kuwait-based integrated solid waste management company with municipal and industrial waste operations. Comparable to SIRC's Yadoum and REVIVA; provides GCC regional benchmark for sovereign-backed waste platforms.
• ENOWA (NEOM Waste Operations): NEOM's in-house circular economy and waste management entity for the NEOM megaproject. Comparable to SIRC's Akam on a regional basis — both serve Saudi Vision 2030 infrastructure; ENOWA is single-project-focused while SIRC is national.

Broad incumbents

• Veolia Middle East: Global environmental services giant with significant GCC operations across municipal waste, hazardous waste, and water/wastewater. Overlaps with most SIRC subsidiaries but at much larger scale and as a foreign incumbent rather than a domestic national champion.
• Suez (now part of Veolia/Gazelle entity): Global waste and water services provider with historical Middle East footprint in municipal collection and recycling. Comparable to SIRC's Yadoum and REVIVA operations but operates as a broad multinational rather than a domestic champion.

Direct peers

• Averda: Leading MENA waste management company providing collection, sorting, recycling, and disposal across municipal, commercial, and industrial clients. Directly comparable to SIRC's Yadoum and Akam subsidiaries; both compete for large-scale municipal and C&D contracts in the GCC.
• Clean Harbors: North American leader in hazardous waste management, industrial cleaning, and emergency response. Closely comparable to SIRC's REVIVA subsidiary in industrial hazardous waste handling, treatment, and logistics services to manufacturers/refineries.
• Renewi: European waste-to-product company operating MRFs and recycling streams across plastics, metals, and WEEE. Comparable to SIRC's Yadoum (RDF, plastic), ELECTA (WEEE/metals), and Akam (C&D) operations in terms of materials recovery approach.
• Stericycle: Specialized regulated waste management company focused on medical waste, hazardous waste, and compliance services. Directly comparable to SIRC's Wazeen subsidiary (medical waste) and REVIVA (industrial hazardous waste) in terms of service line and customer profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sircsaudi

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saudi Investment Recycling Company