Saudi petrochemicals company Alujain Corporation has signed a joint venture agreement with Belgium’s Beaulieu Fibres International (BFI) to expand polypropylene fibre and nonwoven product manufacturing in the Kingdom. 

BFI will invest SAR89 million ($23.7 million) in Alujain’s subsidiary Infrastructure Reinforcement Industrial Company (IRIC) for a 50 per cent stake. 

The partnership aims to increase IRIC’s production capacity to 88,000 tonnes per year from 26,000 tonnes, with an additional SAR330 million ($86.5 million) investment planned.