Tadweer signs contract with “MOBCO” for SR42.7 mln

National Environmental Recycling Co. Announces signing of Tebrak Trading and Contracting Company Solidarity,Mounes Mohamed Alshayeb for Civil Construction “MOBCO” for SR 42.7 million in order to implement the construction of factories for the recycling of electronic, electrical, and metal waste.

The decision to establish these factories comes from the Tadweeer vision to achieve its growth and expansion strategy and maximize its assets in order to achieve the highest levels of growth and the best financial returns for its shareholders, Also, these factories will meet the current and future market demand locally and globally, and will double the Tadweeer sales and enhance its competitiveness.

It is expected that there will be a positive financial impact on Tadweeer’s revenues when it starts operating, which is expected to be in the second quarter of 2024.

The company added that the contract to establish factories specialized in the recycling of electronic, electrical and metal waste, with a production capacity of 400k tons per year, and an area of 42,000 square meters.