Tadweer is expected to develop the opportunity for electronics recycling and device refurbishment in the Kingdom with a target of one million products within five years
Saudi’s Tadweer (National Environmental Recycling Co) announced that it has signed a Memorandum of Understanding with the Ministry of Communications and Information Technology. Under the MoU, Tadweer is expected to develop the opportunity for electronics recycling and device refurbishment in the Kingdom with a target of one million products within five years, the company said.
The memorandum of understanding also focuses on achieving several goals, including protecting the environment in the Kingdom, spreading a culture of electronic waste recycling in society, and committing to the security and confidentiality of stored information by destroying data inside devices to be recycled once they are received.
Tadweer said the contract is expected to have a positive financial impact on the company’s financial results from the fourth quarter of 2022. The recently listed firm sealed the agreement with the Saudi Ministry of Communications and Information Technology on 12 June.
Meanwhile, Tadweer noted that the project would reflect positively on its financials starting from the fourth quarter (Q4) of 2022. Last May, the company listed its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).
