Business

Recycling firm Kiverco wins major contract in Saudi Arabia

CO Tyrone recycling firm Kiverco has been chosen to design, build and instal a waste recycling plant that will help recycle all construction waste from the highly-acclaimed $2 billion Red Sea Project in Saudi Arabia.

It follows the firm securing new business in UAE last year worth nearly £3 million after tying up a deal with waste management company Dulsco.

The Red Sea Project is a land and property development announced by the Saudi Crown Prince Mohammad bin Salman three years ago, focused on attracting tourists to visit and explore the Saudi western coast and reduce the Kingdom’s dependence on oil.

It has already passed significant milestones, with work on track to welcome the first guests by the end of 2022, when the international airport and first four hotels will open.

The remaining 12 hotels scheduled for completion in phase one will open in 2023, delivering a total of 3,000 rooms across five islands and two inland resorts.

Chad Woodward, director of trade and investment at the British Embassy in Saudi Arabia, said: “I'm pleased to learn of Kiverco’s involvement in the project. The fact that Kiverco was chosen by Averda to deliver a solution to process the waste generated by this project highlights the excellent reputation British manufacturing has in the region.”

He added: “Kiverco has started to expand in this region and I am confident they will continue to win new business as a result of this flagship project.”

While incorporating world-class partner component technologies, some 85 per cent of the Averda plant was manufactured at Kiverco’s head-quarters and factory in Brockagh, close to the Lough Neagh shore.

Steve Harper, Invest NI’s executive director of international business, said: “We have worked with Kiverco for many years. Our in-market teams in both UAE and across Europe are assisting the company to grow internationally, with a contract in UAE announced by Kiverco just last year and a further distribution agreement in Poland with our support.

“This new contract is testament to Kiverco’s growing reputation globally and its efforts in continuing to build on business relationships, particularly in the UAE. We will continue to support the company to strengthen its international portfolio and capitalise on current business opportunities in this very lucrative market.”

Kiverco's recycling solutions are utilised across the world in Europe, North America, the Middle East and Australasia with more than 300 installations in the UK alone.

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