7 Hrs
Source:
معلومات مباشر
Al-Lujain partners with Bioly for fiber local production
Alujain Corporation announced the signing of a partnership agreement with Belgian company Biolieu to localize the production of synthetic fibers in Saudi Arabia. The initiative aims to increase the production capacity from 26,000 tons to 88,000 tons annually. The deal includes Biolieu acquiring a 50% stake in Infrastructure Processing Company in exchange for an investment of 89 million SAR, with plans for additional capital investments totaling 330 million SAR. A financial impact is expected to begin from the end of 2026. The project’s goal is to develop the petrochemicals sector and enhance value addition within the Kingdom.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)