Alujain Corporation, a leading Saudi petrochemical company, announced the signing of a strategic memorandum of understanding with Bioli International Group, a significant step aimed at localizing the production of synthetic fibers and nonwoven fabrics within the Kingdom of Saudi Arabia. This partnership marks a milestone in the company's efforts to support its expansion plans and enhance the added value of its products.
A strategic context aligned with Vision 2030
This memorandum comes within the framework of broader national efforts to achieve the goals of the Kingdom’s Vision 2030, which places diversifying the economic base and enhancing local content at the heart of its priorities. Through programs such as the National Industrial Development and Logistics Program (NIDLP), the Kingdom seeks to transform itself into a leading industrial power and a global logistics hub. Localizing advanced industries, such as synthetic fiber manufacturing, is a cornerstone of this strategy, as it contributes to reducing reliance on imports, building resilient local supply chains, and creating quality job opportunities for citizens.
The importance of the partnership and its expected impact
This partnership, subject to regulatory approvals, combines Alujain's established manufacturing expertise in the region with Bioli Group's technological leadership and global experience in synthetic fibers and nonwoven fabrics. The project aims to meet growing demand in vital sectors such as infrastructure, automotive, technical textiles, personal hygiene products, and medical applications.
On a local level, the project is expected to have multiple positive impacts, most notably:
- Boosting local content: The project will directly contribute to increasing the proportion of locally manufactured products in strategic sectors.
- Knowledge and technology transfer: The partnership will help transfer the latest global technologies and establish a center for product development and innovation, enhancing local technical capabilities.
- Supporting manufacturing industries: The project will provide high-quality raw materials for manufacturing industries, increasing their global competitiveness.
Government support and a future vision
The signing of the two-year memorandum of understanding took place under the auspices of the National Center for Industrial Development and in the presence of the Deputy Minister of Industry and Mineral Resources for Industrial Affairs, Engineer Khalil bin Salma, and the Center’s CEO, Engineer Saleh Al-Salmi, reflecting strong government support for such strategic partnerships. Al-Lujain intends to leverage available government programs for knowledge, technical, and financial support to ensure the project’s success and sustainability, and affirmed that it will announce any significant developments in due course.
