Modern Recycling Factory (MRF) recently welcomed a delegation from Al Khaliji Commercial Bank to tour its operational facility, a significant milestone marking a successful partnership in advancing Qatar’s green technology sector.
Spanning an expansive 20,000 square meters, MRF stands as one of Qatar’s largest greenfield recycling projects. The facility represents a substantial investment of $41.3 million (QAR 150.06 million), a testament to Al Khaliji Commercial Bank’s commitment to supporting pioneering initiatives aligned with Qatar’s National Vision 2030.
During the tour, members of Al Khaliji Commercial Bank gained firsthand insights into MRF’s cutting-edge processes, which transform used tires and rubber materials into a range of innovative and eco-friendly products. This visit highlighted the tangible outcomes of their investment, showcasing how MRF is actively contributing to environmental sustainability and economic diversification in Qatar.
Mr. Akram Ibrahim, Chief Executive Officer of MRF, expressed his gratitude for Al Khaliji’s unwavering support, stating, “This is a first-of-its-kind project for recycling used tires, which pose a serious threat to the environment. The project is a unique greenfield facility, which became a reality due to the vision of the promoters in line with Qatar National Vision 2030. MRF is thankful for the continuous support of Al Khaliji Commercial Bank, government authorities, environmental agencies, technology partners, and suppliers.”
Echoing this sentiment, Mr. Fahad Al Khalifa, CEO of Al Khaliji Commercial Bank, remarked, “As part of our ‘Generation Green’ programme, the MRF project contributes to producing environmentally friendly, value-added products for commercial and industrial use, while creating economic opportunities that contribute to diversifying state revenues.”
This sentiment reflects the shared vision of both MRF and Al Khaliji Commercial Bank to drive positive change and contribute to a more sustainable future for Qatar. Stakeholders involved in the MRF project are confident that the facility will play a pivotal role in:
* Conserving Energy: By utilizing recycled materials, MRF reduces the energy required to manufacture new products from virgin resources.
* Preserving Natural Resources: MRF’s operations lessen the demand for raw materials, contributing to the conservation of Qatar’s natural resources.
* Reducing Environmental Impact: The recycling of used tires mitigates their environmental impact, preventing them from ending up in landfills and posing potential hazards.
