MVW Lechtenberg Projektentwicklungs- und Beteiligungsgesellschaft, a leading German consulting firm specialising in alternative fuels for the cement and related industries, has announced the launch of a groundbreaking transformative plastic waste management project in the Kingdom of Saudi Arabia in collaboration with Empower, a Norwegian technology company providing innovative traceability solutions.
Unveiling the key project, MVW Lechtenberg & Partner Middle East said the key objective is to process approximately 3 million tonnes of municipal solid waste per year to produce refuse-derived fuels (RDF) in six governorates. 
Once the project is fully implemented, the estimated CO2 emissions reduction would be approximately 1,791,300 tonnes per year, it stated.
To enhance the capabilities and reach of this project, the German group has set up a joint venture with Saudi Investment Recycling Company (SIRC), a wholly-owned subsidiary of Saudi sovereign wealth fund PIF.
On Empower's role, MVW Lechtenberg & Partner Middle East said the Norwegian group's blockchain technology will play a crucial role in the project, ensuring transparent tracking and management of plastic waste from collection to recycling and RDF conversion. 
This system will allow real-time monitoring of waste management activities, providing valuable data for stakeholders including municipalities, governments, and environmental organizations, it stated.
A key innovation in this project is the integration of Plastic Credits and RDF systems. 
Plastic Credits incentivise responsible waste disposal by providing financial rewards for verified plastic waste collection and recycling activities, , said the statement from the German group. 
These credits can be traded or sold to entities aiming to neutralise their plastic footprints or comply with environmental regulations, thereby fostering a more circular economy.
"Plastic Credits will help close the financial gap between the cost of collecting and processing plastic waste and the market price for recyclable materials and RDF. By providing a sustainable revenue stream, these credits will ensure the long-term financial viability of this waste management initiative, making it more attractive to investors and stakeholders," said a company spokesman.
The verification of these credits will be based on the GPx traceability standard developed by GPN Corporation, as a member of the International Green Purchasing Network (IGPN), he stated. 
This standard ensures high levels of transparency, traceability, and accountability, which are crucial for building trust and securing participation from various stakeholders, he added.-TradeArabia News Service