Tadweeer purchases production lines for SAR 29.4M

National Environmental Recycling Co. (Tadweeer) completed on March 11 the purchase of production lines worth SAR 29.38 million for its factories in Riyadh from European companies specialized in the manufacturing of recycling lines.

In a Tadawul statement, the company said the deal includes highly efficient production lines that will increase the production capacity to around 500,000 tons per year.

Accordingly, the move will contribute to boosting the company’s revenues and market share.

The new production lines will focus on recycling and producing iron, copper, aluminum, precious metals, and stainless steel.

The self-financed transaction includes the delivery and installation of the production lines on time in accordance with the relevant terms and conditions.

The move comes as part of the company's strategy to enhance its production capabilities and improve the efficiency of operations in line with the requirements of the market.

The lines are expected to start operation in August 2025, the company said, adding that the financial impact will appear by the end of 2025, which will contribute to achieving Tadweeer's strategic goals.

There are no related parties to the deal, the company added.