The Saudi government has signed a memorandum of understanding (MoU) with a national company to establish a project to recycle waste, a report said.

The project is expected to cost SR12 billion ($3.12 billion), the Arab News report said quoting local media.

The recycling project has been submitted to the World Bank for further studies and to review its economic and technical aspects in light of previous international projects undertaken in this regard, said the report.

The recycling program aims to avoid environmental disasters triggered by the accumulation of waste, it said.