KSA’s Tadweeer kick off new iron production line: Saudi-based recycling company Tadweeer launched an iron production facility expected to produce some 120k tons of the metal per annum, according to a disclosure to Tadawul. The financial details and location of the facility was not disclosed.

Added revenue stream: Establishment of the new facility is in line with the company’s targets to expand production lines to support KSA’s circular economy and increase its market share in the recycling sector, the statement notes. The new production line is expected to rake in SAR 100 mn this year, adding some SAR 160 mn to the company’s revenues beginning in 2024, it adds.

Tadweeer has been active lately: The company signed a USD 11.36 mn agreement with two KSA-based firms Tebrak Trading & Contracting Company and Mounes Mohamed Alshayeb for Civil Construction for the development of e-waste repurposing plants in the Kingdom in January. The electronic waste recycling factories will have a processing capacity totaling 40k tons per year once they become operational in 2Q 2024, and are expected to double Tadweeer’s sales.