Beeah Group Forms Strategic Alliance to Transform Waste Management in Medina
In a landmark move to advance sustainable waste management practices in Saudi Arabia, Beeah Group, a pioneer in sustainability and digitalisation, has announced a joint venture with the Saudi Investment Recycling Company (SIRC), a wholly-owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, and ALMQR Development Company, the investment arm of the Municipality of Madinah. This strategic alliance marks a significant step towards achieving the ambitious waste management goals outlined in Saudi Vision 2030.
The joint venture, spearheaded by Beeah Group’s visionary leadership, aims to establish a comprehensive waste management system in Madinah. This includes collection, segregation, processing, sorting, material recovery, disposal, and the overall administration of landfill and recycling facilities. The partnership leverages Beeah Group’s expertise in sustainable waste management and digital transformation, SIRC’s financial strength and strategic insights, and ALMQR Development Company’s deep understanding of the local context to deliver innovative and effective solutions.
The agreement was signed in the presence of Prince Faisal bin Salman Al Saud, Governor of Madinah Province; Eng. Abdulrahman Abdulmohsen A. AlFadley, Minister of Environment, Water and Agriculture; and Eng. Fahad bin Mohammed Albelaihshi, Secretary of Madinah Province. The signatories were Khaled Al Huraimel, Group CEO of Beeah; Eng. Ziad Al Sheiha, CEO of SIRC; and Majid Al Shalhoub, CEO of ALMQR Development Company. The deal was guided by Shaun Johnson, Beeah Group’s Chief Legal Officer.
“We are delighted to partner with SIRC and ALMQR to establish MWMC. This joint venture represents a major milestone in our journey to create a more sustainable future for Madinah,” said Khaled Al Huraimel, Group CEO of Beeah.
“MWMC will play a vital role in achieving the goals of Saudi Vision 2030, which calls for the development of a circular economy in the Kingdom,” Eng. Ziad Al Sheiha, CEO of SIRC stated.
“We are committed to working with Beeah and SIRC to make MWMC a success,” Majid Al Shalhoub, CEO of ALMQR Development Company said.
This strategic partnership aims to revolutionise waste management in Medina by providing a comprehensive suite of services, from waste collection and segregation to processing, sorting, material recovery, disposal, and the overall administration of landfill and recycling facilities. With Beeah’s proven track record of success in waste management, spanning over three years of serving parts of the city, the new joint venture is poised to expand its reach and make a significant contribution to Medina’s waste diversion and sustainability goals.