SIRC Group Signs Memorandum of Understanding with NOVA to Advance the Circular Economy and Support Recycling Initiatives in Saudi Arabia

SIRC Group, a Public Investment Fund company, has signed a Memorandum of Understanding with Health Water Bottling Co., owner of the NOVA brand, with the aim of advancing the circular economy, supporting recycling initiatives, and developing sustainable environmental solutions that contribute to improving resource efficiency in Saudi Arabia, in line with the objectives of Saudi Vision 2030.

This MoU forms part of SIRC Group’s ongoing efforts to lead the recycling sector, strengthen partnerships with the private sector, and develop an integrated waste management and recycling ecosystem that supports environmental and financial sustainability. It also contributes to enabling high-quality investments, creating job opportunities linked to the recycling sector, supporting Saudi Arabia’s waste diversion targets away from landfills, and advancing the Kingdom’s net zero ambitions and the Saudi Green Initiative.

Under the MoU, both parties will collaborate on the development and implementation of joint initiatives aimed at increasing material recovery rates, strengthening the recycling ecosystem, and launching awareness programs to promote consumer understanding of the importance of recycling and sustainable practices. The cooperation will also include the implementation of practical initiatives, most notably Reverse Vending Machines (RVMs), to enhance resource efficiency and support the green economy.

Eng. Ahmed Al-Juhany, VP Marketing & Strategic Partnerships at SIRC Group, stated that this MoU represents an important step toward expanding collaboration with the private sector and developing practical initiatives that contribute to increasing recycling rates and enhancing material recovery, in support of the objectives of Saudi Vision 2030, the Kingdom’s net zero ambitions, and the Saudi Green Initiative.

For his part, Mr. Suleyman Serdar Cihanli, Chief Executive Officer of Health Water Bottling Co., affirmed that this partnership reflects the company’s commitment to supporting sustainability efforts and adopting innovative solutions that contribute to enhancing recycling and improving resource efficiency, in line with Saudi Arabia’s direction toward a more sustainable and efficient circular economy.