This financing will enable Recycling Services to expand the scope of its business and cover wider work volume for recyclable waste collection services.
The truck is fully equipped to safely collect and transport waste lead acid batteries (LAB) to recycling facilities. Zubair SEC had supported Battashi and Amri through advisory services to prepare a feasibility study to buy the truck for the expansion and facilitated the securing of this financing with National Finance.
Battashi and Amri, whose company specialises in waste management and promotes environmental responsibility through its operations, were among the ten winners of the Zubair SEC’s flagship Direct Support Programme (DSP) for the year 2017.
Zubair SEC had signed an agreement with Ominvest in 2016 to support small and medium enterprises (SMEs) and aspiring entrepreneurs to develop their business ideas in Oman under the DSP programme.
Abdulaziz Mohammed al Balushi, group CEO, Ominvest, said, “As the leading and largest investment holding company in Oman, we are intensely invested in the future prosperity of Oman, with an emphasis on supporting aspiring entrepreneurs. We are delighted to support Battashi and his company.”
Robert Pancras, CEO of National Finance Company, said, “We are pleased to help entrepreneurs such as Battashi to develop and grow their businesses. We laud Zubair SEC for their support to the start-ups which enables them to fulfil their objectives and ambitions.” Batashi said, “I would like to extend my profound gratitude to Zubair SEC for their extensive support and guidance. I would like to thank Ominvest and National Finance for their much-needed support. They have constantly ensured that start-ups such as my company are supported.”
Ali Shaker, advisor – Business Development and Strategic Partnerships for Zubair SEC, said, “Such collaborations will scale up the success stories of start-ups and encourage a positive trend.”