Al Khalij Commercial Bank (al khaliji) executives recently visited the Modern Recycling Factory (MRF) in Mesaieed Industrial City, which the bank financed and endorsed over two years ago in support of green-technology businesses in Qatar.

The initiative came as part of the “Generation Green” program at al khaliji, aimed at supporting environmental development and social responsibility in Qatar.

At 20,000 sq m, the QR150.06 million ($41.3 million) project is considered one of the largest Greenfield projects for recycling materials in the country.

Fahad Al Khalifa, al khaliji Group chief executive officer, said: “As part of our “Generation Green” program at al khaliji, the MRF project contributes to the production of environmentally-friendly value added products for commercial and industrial use, while creating economic opportunities that contribute to diversifying state revenues.”

“The Greenfield project is a perfect demonstration of al khaliji’s relentless pursuit to invest in the future of Qatar and its economic prosperity, while balancing the bank’s economic, social and environmental obligations. The initiative dovetails the objectives of the Qatar National Vision 2030, as well as honours al khaliji’s focus on supporting green technology and preserving the natural and environmental landscape of Qatar,” he added.

Akram Ibrahim, chief executive officer of Modern Recycling Factory, said: “Modern Recycling Factory (MRF) is first of its kind project for recycling used tyres which pose serious threat to the environment.”

“The project is a unique green field 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 Khalij Commercial Bank, Government Authorities, Environment Agencies, Technology partners and suppliers. MRF will endeavour to forge strong bonds with the local community and will continue serve them through business operations and contribute towards reducing the impact of used tyres on the environment,” he added.

Located in Mesaieed Industrial City, the Modern Recycling Factory (MRF) fosters environmental sustainability in the country and promotes recycling practices as a solid pillar for economic growth by recycling used tyres and rubber materials, into finished products thereby reducing the need for raw materials, conserving energy and preserving natural resources. – TradeArabia News Service