Business continued to flourish on the floor of the Metropolitan Expo Centre on the second day of Posidonia 2024, with numerous new deals and agreements as the maritime community gathered in the Greek capital, as it does every two years, for the world’s largest and most prestigious shipping event.

Amidst the flurry of activity, SIRC Group, the Saudi Investment Recycling Company, wholly owned by the Saudi Public Investment Fund, signed a memorandum of understanding (MoU) with the Greek company Hellenic Environmental Centre SA (HEC) during a ceremony attended by Chairman of the Board of Directors of SIRC, Engineer Khalid Al-Salem and the Ambassador of the Custodian of the Two Holy Mosques to Greece, Dr Saad bin Abdul Rahman Al-Ammar.

The Memorandum of Understanding was signed by Eng. Ziyad Al-Sheiha, SIRC CEO, and Mr Dimitris Melissanidis, Chairman of the Board of Directors of HEC, at the Posidonia International Shipping Exhibition 2024 in Athens.

The MoU aims to strengthen SIRC’s commitment to sustainability in marine management practices. It plans to create a partnership that will ultimately establish environmental treatment centres for recycling services for ships in Saudi Arabia, in a move designed to enhance the commitment to environmental sustainability and responsible waste management, as well as recycling.

The partnership will explore and establish industrial waste treatment facilities while jointly identifying and evaluating strategic locations for these facilities, considering factors such as proximity to industrial centres, transportation infrastructure, and environmental impact.

“We are seeing a significant increase in the number of business deals signed between Greek and international companies during this year’s Posidonia,” said Theodore Vokos, Managing Director, Posidonia Exhibitions S.A. “We expect many more similar announcements between companies from different countries until the end of the event this Friday, a testimony to the truly global nature of the shipping industry and to the international appeal of Posidonia as an ideal place for the maritime community to do business and forge partnerships”.

Posidonia 2024 is organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.