As good as the business of selling plastic waste to the hungry Chinese market is, a Saudi company has decided there's something even better.
Middle East Waste Management Ltd., based in Jeddah, Saudi Arabia, would rather keep the waste, at least part of it, at home. The 10-year-old scrap and waste supplier said it plans to start a molding plant at its headquarters in June.
Sales and marketing manager Moh'd Al Zaharnah said China has been the most important market for the company.
“Freight cost is not as intimidating as people think,” he said. “A regular 40-foot, [55,000-pound] container to China costs about $600.”
He estimated 90 percent of the firm's business is international.
With a staff of more than 100, the company recycles 33 million pounds of post-industrial and post-consumer waste annually from three collection sites throughout Saudi Arabia. “We work with local authorities and business,” Al Zaharnah said. He added the output will top 44 million pounds, “at least.”
The company handles a number of materials — including PET, high density polyethylene, PVC, low density polyethylene, polypropylene and polystyrene — and sells baled waste, regrinds, powder, repro pellets and lumps.