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FINANCIAL NEWS
Saudi- SEC, Al Safwa ink co-op deal for recycling carbon ash
29 May 2017
(MENAFN) The Saudi Elect Co. (SEC) has inked a co-op deal with Al Safwa Cement Co. for the recycling of carbon ash and the utilize of oils and oil residues coming from the burning of heavy fuel in power generation plants.
Accordingly, the objective of the deal is to dispense with carbon ash projects at producing stations, which will achieve fiscal surplus of 325mn riyals amid the period of the deal.
Additionally, SEC is the first firm to adopt this environmental option, which will collaborate with the cement firm, after the approval for the recycling tech by the Authority for Meteorology and Environmental Protection.
Meanwhile, this would cut the whole reliance of the cement factory on heavy fuel, thereby cutting dependence on oil, which is a key element of the kingdom Vision 2030.
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MENAFN2905201700450000ID1095519730
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