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Saudi Basic Industries Corporation (SABIC) has signed a technology agreement with Montefibre for a fully integrated world scale carbon fibre project in Saudi Arabia.
SABIC will first use the technology for the new carbon fibre plant to be built in Saudi Arabia.
This plant will enable SABIC to serve the growing demand for carbon fibre and composites in such fast-growing markets as alternative energy, transportation and infrastructure.
The agreement grants SABIC an extensive international licence for the carbon fibre technology developed by Montefibre.
SABIC and Montefibre also signed a memorandum of understanding for the companies to study the feasibility of a new carbon fiber production plant in Spain to be integrated into Montefibre's existing acrylic fiber production site.
The carbon fibre project is expected to establish a supply of more than 3,000 tonnes of industrial grade carbon fibre to serve emerging local markets in the Middle East as well as international markets.
Koos van Haasteren, executive vice president, performance chemicals, said: "This carbon fibre project will be the basis for the creation of a world-class carbon composites value chain in Saudi Arabia."
The project will also include the creation of a new carbon fiber product development center and composite plastics application development capabilities at the SABIC Plastics Application Development Center (SPADC) which is currently under construction at the Riyadh Techno Valley research complex at King Saud University.