A subsidiary of the National Real Estate Co. of Kuwait, National Projects Holding Co., recently signed an agreement with a subsidiary of Tatweer (a Member of Dubai Holding), Dubai Industrial City, to establish Dubai Recycling Park.
The park, which will span over a 1.5 million square foot site, will be the first fully integrated waste management and recycling park in the Middle East, according to Khaleej Times. The site will have a 49 years
lease agreement with Dubai Industrial City and a capital investment of up to $150 million.
The project is set to be completed within 18 month, with construction
to begin around mid-2007.
"We plan to revolutionise the way the Middle East manages waste by
establishing up to a dozen different recycling plants within the Dubai
Industrial City," said Musaed Al-Saleh, Vice Chairman and CEO of
National Projects Holding Co.
"This will not only handle the in-flow of waste from the booming Dubai
Industrial City from its green field commencement, but from across the
Emirate of Dubai and the greater UAE as well."
Most GCC countries rank in the top ten worldwide in terms of waste production per capita.
