Ajlan & Bros Holding signs MoU with Saudi Aramco on Carbon Fiber Factory
Ajlan & Bros Holding Group and Saudi Aramco signed an MoU to evaluate business opportunities to establish a local carbon fiber factory and its potential products from the value chain.
Eng. Ali Al Hazmi, CEO of Ajlan & Bros Holding Group, commented: “Through our investment, we aim to build a leading manufacturing facility that will have a positive impact on Saudi society, and a positive contribution to the country’s economy. We are an ambitious country with Vision 2030 as our guiding framework, and by engaging and partnering with Saudi Aramco, we are determined to find suitable business opportunities and make significant investments to produce carbon fiber and related products in the Kingdom.”
The MOU states that Ajlan & Bros will invest in opportunities related to carbon fiber manufacturing. It also states that the two parties shall cooperate in the development of projects related to the local manufacture of carbon fiber and related value chain products, including possible cooperation in research and development in the carbon fiber industry, and analysis of other services related to carbon fiber materials and products.
It is worth noting that the Ajlan & Bros Holding Group is a leading and diversified group of companies spread in more than 25 countries, with more than 12,000 employees around the world. The company was established with the aim of investing in a variety of projects across the main economic growth sectors in the Kingdom of Saudi Arabia.
And in line with the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and His Royal Highness Prince Mohammed bin Salman Vision 2030; Ajlan & Bros Holding Group has embarked on significantly diversifying its projects on the regional and global arenas. It works to support the modernization process in Saudi Arabia, while providing avenues for private investment and local job opportunities.
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