Tadweeer’s output doubled by 120%; exports exceed SAR 800M: CEO

Nasser Aldueb, CEO of National Environmental Recycling Co. (Tadweeer)

National Environmental Recycling Co.’s (Tadweeer) recycling lines that were launched in 2024 have entered actual production, said CEO Nasser Aldueb, adding that output has grown by 120%.

In an interview with Argaam on the sidelines of SNB Capital’s Investors Day, the top executive indicated that this positively impacted the company's operations, expecting total production and sales to range between 220,000-230,000 tons by year-end.

This production boost has contributed significantly to ramping up exports, with 85% of the company's sales being directed to Asian markets, he added.

The CEO also expects the value of exports to exceed SAR 800 million by 2024-end. Copper, aluminum, and precious metals are among the key products being exported by Tadweeer.

According to the top executive, Tadweeer produces metals and materials with high global demand. It does not face any hurdles in meeting this demand, thanks to production operations.

Aldueb also anticipates the company to witness positive growth during this year, with a projected increase in sales of 60% to 70% year-on-year, with profit also likely to grow by 25% to 30% on an annual basis.

As for developments in the transition to the Main Market (TASI), he clarified that the company has made strides in this path, as most requirements have been met, including the financial and legal inspection, with the financial advisor also appointed.

The company is working on completing the remaining procedures, which will allow the TASI-transition application to be filed as soon as possible, Aldueb concluded.