Riyadh – Mubasher: Alujain Corporation has signed a definitive joint venture (JV) agreement with Beaulieu International Group to localize the production of synthetic fibers and non-woven fabrics in Saudi Arabia.
Under the terms of the agreement, Beaulieu International Group will acquire a 50% stake in Alujain’s subsidiary, Manufacturing Infrastructure Processing Company, through a direct investment valued at SAR 89 million.
The investment consists of a combination of machinery assets and cash. The partnership aims to structurally increase production capacity for advanced polypropylene fibers used in geotextiles and flooring.
The subsidiary plans to expand its current annual production capacity from 26,000 tons to 88,000 tons over the coming years. This expansion is expected to require additional capital expenditure of approximately SAR 330 million, which will be jointly funded by both partners.
The financial impact of this transaction is expected to materialize starting from the end of the fourth quarter (Q4) of 2026.
This strategic move follows a preliminary memorandum of understanding (MoU) signed on 26 February 2026 and aligns with Alujain’s broader petrochemical project in Yanbu Industrial City, which includes a propylene plant with a capacity of 600,000 tons.
Last month, the listed company’s shareholders appointed a new external auditor and greenlighted related party transactions.
