City Cement sets up AF joint venture

Saudi Arabia-based City Cement Co has announced that its subsidiary Green Solutions for Environmental Services has set up a joint venture to produce alternative fuel from waste, reports Zawya.

The newly-created venture, which reportedly has capital of SAR6.77m (US$1.8m), is owned by Green Solutions (29.4 per cent), Lechtenberg Middle East for Environmental Services Co (19.6 per cent), and Tadweer Environmental Services Company (51 per cent), a unit of Public Investment Fund-backed Saudi Investment Recycling Company.

According to City Cement, the project will help reduce the producer’s dependence on fossil fuels, cut carbon emissions, and contribute to the kingdom's transformation into a circular economy.