Logo ofAlujain Corp.
Alujain Corp. signed a joint venture (JV) agreement, on July 20, with Beaulieu Fibres International N.V., a wholly owned subsidiary of Beaulieu International Group. 
The partnership aims to structurally expand Alujain’s production capacity of advanced polypropylene (PP) fibres for geotextile and flooring applications, according to a Tadawul statement.
In a statement to Tadawul, the company said the transaction is valued at SAR 89 million ($23.73 million), comprising machinery and cash.
Under the agreement, Beaulieu Fibres International N.V. will acquire a 50% stake in Alujain’s wholly owned subsidiary, Infrastructure Reinforcement Industrial Company (IRIC), becoming its strategic partner.
The parties also signed a shareholders’ agreement, a subscription agreement, and marketing agreements.
Alujain said the investment will be made through an SAR 89 million capital injection into IRIC in exchange for a 50% ownership stake, with the aim of establishing a joint venture to produce synthetic fibers and nonwoven fabrics in Saudi Arabia.
The agreement is long term and will remain in effect by mutual consent of both parties. The financial impact is expected to begin at the end of Q4 2026.
There are no related parties to the deal, the statement added.
The company also said IRIC plans to increase its annual production capacity from 26,000 tons to 88,000 tons of synthetic fibers and nonwoven products over the coming years, supported by production lines contributed by Beaulieu Fibres International N.V.
The expansion will require an additional SAR 330 million ($88 million) in capital expenditure, to be jointly funded by the two partners.
Beaulieu International Group, headquartered in Belgium, is a diversified industrial holding company with businesses spanning chemicals, industrial applications, flooring, distribution, and real estate.
The group serves customers in 120 countries and reported EUR 1.8 billion in sales in 2025.
According to data available with Argaam, Alujain announced in November 2022 that it received approval from the Ministry of Energy for feedstock allocation for a new project in Yanbu Industrial City (YIC).
The project comprises a propane processing plant to produce propylene, a polypropylene plant, and a complex for producing polypropylene compounds and specialty materials.
In February 2026, the company also signed a memorandum of understanding (MoU) with Beaulieu International Group for a strategic partnership to localize the production of synthetic fibers and nonwoven fabrics.
Logo ofAlujain Corp.
Alujain Corp. signed a joint venture (JV) agreement, on July 20, with Beaulieu Fibres International N.V., a wholly owned subsidiary of Beaulieu International Group.
The partnership aims to structurally expand Alujain’s production capacity of advanced polypropylene (PP) fibres for geotextile and flooring applications, according to a Tadawul statement.
In a statement to Tadawul, the company said the transaction is valued at SAR 89 million ($23.73 million), comprising machinery and cash.
Under the agreement, Beaulieu Fibres International N.V. will acquire a 50% stake in Alujain’s wholly owned subsidiary, Infrastructure Reinforcement Industrial Company (IRIC), becoming its strategic partner.
The parties also signed a shareholders’ agreement, a subscription agreement, and marketing agreements.
Alujain said the investment will be made through an SAR 89 million capital injection into IRIC in exchange for a 50% ownership stake, with the aim of establishing a joint venture to produce synthetic fibers and nonwoven fabrics in Saudi Arabia.
The agreement is long term and will remain in effect by mutual consent of both parties. The financial impact is expected to begin at the end of Q4 2026.
There are no related parties to the deal, the statement added.
The company also said IRIC plans to increase its annual production capacity from 26,000 tons to 88,000 tons of synthetic fibers and nonwoven products over the coming years, supported by production lines contributed by Beaulieu Fibres International N.V.
The expansion will require an additional SAR 330 million ($88 million) in capital expenditure, to be jointly funded by the two partners.
Beaulieu International Group, headquartered in Belgium, is a diversified industrial holding company with businesses spanning chemicals, industrial applications, flooring, distribution, and real estate.
The group serves customers in 120 countries and reported EUR 1.8 billion in sales in 2025.
According to data available with Argaam, Alujain announced in November 2022 that it received approval from the Ministry of Energy for feedstock allocation for a new project in Yanbu Industrial City (YIC).
The project comprises a propane processing plant to produce propylene, a polypropylene plant, and a complex for producing polypropylene compounds and specialty materials.
In February 2026, the company also signed a memorandum of understanding (MoU) with Beaulieu International Group for a strategic partnership to localize the production of synthetic fibers and nonwoven fabrics.
