03:14 AM EDT, 07/21/2026 (MT Newswires) -- Alujain (SASE:2170) agreed to form a joint venture with Beaulieu International Group unit Beaulieu Fibres International to expand production of synthetic fibres and nonwoven products in Saudi Arabia. Under the deal, Beaulieu will invest 89 million Saudi riyals in cash and machinery for a 50% stake in the petrochemicals, mining, metals, and energy project investor's subsidiary Infrastructure Reinforcement Industrial Co., according to a Tuesday release. The venture plans to increase annual production capacity to 88,000 metric tons from 26,000 tons. The expansion is expected to require an additional 330 million riyals in capital spending, jointly funded by the partners. Alujain expects the agreement to begin contributing financially from the end of the fourth quarter.

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