Alujain and Beaulieu Fibres International form JV to expand polypropylene fibre production in Saudi Arabia

Alujain Corporation signed a joint venture agreement with Beaulieu Fibres International (BFI) to expand polypropylene fibre and nonwoven production in Saudi Arabia. BFI will invest SAR89 million ($23.7 million) in Alujain's subsidiary IRIC for a 50% stake, and the partners plan to increase capacity to 88,000 tonnes per annum with additional capex of SAR330 million ($86.5 million).

“The joint venture forms part of Alujain's broader petrochemicals expansion in Yanbu Industrial City, where the company is developing a propane dehydrogenation and polypropylene project following feedstock allocation approval from Saudi Arabia's Ministry of Energy.”tradearabia.com

• 1 source
• tradearabia.comSaudi petchem Alujain signs polypropylene fibre JV with Belgian groupRIYADHMar 9, 2018

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