National Environmental Recycling Co., popularly known as Tadweeer, has signed a landmark agreement with Chinese automaker Chery to establish an aluminium smelter in Saudi Arabia, announced Tadweer’s CEO Nasser Aldueb announced in an interview with Al Arabiya TV.
The project, to be located over 15,000 square metres, is estimated at USD 10–15 million (SAR 37.5–56.3 million). The plant will have an annual production capacity of 50,000 tonnes of specialised aluminium, particularly used in cars. This development follows three years of collaboration between Tadweeer and Chery, during which the former used to supply the latter with recycled aluminium products, which Tadweer is exclusively specialised in..
Aldueb noted that a joint task force has been formed to prepare the feasibility study, layouts, site selection, and final investment value.
China-headquartered Chery, which operates a portfolio of automobile brands and product lines, said: “The proposed aluminium plant and smelter in the Kingdom is a pivotal step to support our automotive value chain in the region.”
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Wen Song Ying, President of Chery, said that if the project is developed as per the plan, it will deliver tangible operational and sustainability advantages within the Kingdom and neighboring export markets.
According to Nasser AlDube, this potential project will primarily rely on inputs supplied by Tadweer; hence, it will enhance the local supply chain.
In parallel, Tadweeer is adding new iron production lines at its Riyadh facilities. These will boost revenues by 30–35 per cent, with full financial impact visible by 2026. On financing, Aldueb clarified that the company considers its Industrial Development Fund (IDF) loan sufficient for expansion, ruling out immediate additional borrowing; this reflects Tadweeer’s relatively strong cash flow position.
On the corporate side, Tadweeer is also preparing to transition from the Nomu-Parallel Market to Tadawul’s Main Market (TASI) within the next four months. SNB Capital has been appointed as a financial advisor.
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