Groundbreaking Plastic Waste Management Project Launching in Saudi Arabia
Groundbreaking Plastic Waste Management Project Launching in Saudi Arabia
Selasa, 02 Juli 2024 | 11:05
MVW Lechtenberg Projektentwicklungs- und Beteiligungsgesellschaft GmbH, the leading consulting firm specializing in alternative fuels for the cement and related industries, in collaboration with Empower, a leading provider of innovative traceability solutions, is excited to announce the launch of a transformative plastic waste management project in The Kingdom of Saudi Arabia.
RIYADH, SAUDI ARABIA/ DUISBURG, GERMANY/ OSLO, NORWAY -
Newsaktuell - 1 July 2024 - MVW Lechtenberg Projektentwicklungs- und
Beteiligungsgesellschaft GmbH, the leading consulting firm specializing
in alternative fuels for the cement and related industries, in
collaboration with Empower, a leading provider of innovative
traceability solutions, is excited to announce the launch of a
transformative plastic waste management project in The Kingdom of Saudi
Arabia.
To enhance the capabilities and reach of this project, MVW Lechtenberg
& Partner Middle East and SIRC have founded a joint venture. Saudi
Investment Recycling Company (SIRC), the executive arm for waste
management from the Government of Saudi Arabia, a key player in the
initiative, is a wholly-owned subsidiary of the Public Investment Fund
(PIF) in the Kingdom.
MVW Lechtenberg Projektentwicklungs- und
Beteiligungsgesellschaft GmbH, the leading consulting firm specializing
in alternative fuels for the cement and related industries, in
collaboration with Empower, a leading provider of innovative
traceability solutions, is excited to announce the launch of a
transformative plastic waste management project in The Kingdom of Saudi
Arabia.
The goal of the project is to process approximately 3 million tonnes of
municipal solid waste per year to produce refuse-derived fuels (RDF) in
six governorates. The estimated CO2 emissions reduction when the project
is fully implemented would be approximately 1,791,300 tonnes per year.
Empower's blockchain technology will play a crucial role in this
project, ensuring transparent tracking and management of plastic waste
from collection to recycling and RDF conversion. This system will allow
real-time monitoring of waste management activities, providing valuable
data for stakeholders including municipalities, governments, and
environmental organizations.
A key innovation in this project is the integration of
Plastic Credits and RDF systems. Plastic Credits incentivize
responsible waste disposal by providing financial rewards for verified
plastic waste collection and recycling activities. These credits can be
traded or sold to entities aiming to neutralize their plastic footprints
or comply with environmental regulations, thereby fostering a more
circular economy.
Plastic Credits will help close the financial gap between the cost of
collecting and processing plastic waste and the market price for
recyclable materials and RDF. By providing a sustainable revenue stream,
these credits will ensure the long-term financial viability of this
waste management initiative, making it more attractive to investors and
stakeholders.
The verification of these credits will be based on the GPx traceability
standard developed by GPN Corporation, as a member of the International
Green Purchasing Network (IGPN). This standard ensures high levels of
transparency, traceability, and accountability, which are crucial for
building trust and securing participation from various stakeholders.