Allujain completes trial run of the non-woven fabrics project

Allujain Corporation announced through its annual report that its affiliate, BONAR NATPET, has successfully completed the trial operations in 2013 and is to go on stream this quarter.

BONAR NATPET project is 50% owned by NATPET, Allujain affiliate, and is to produce 17,300 tons of synthetic fibers and 9,600 tons of geo-textile non-woven fabrics in its first phase.

The annual report also indicated that the polypropylene compound project is expected to go on stream in Q4 of 2015. The project will be implemented on 2 phases with a designed capacity of 100,000tons. First phase will cost SAR 278m.

“In spite of the decline of NATPET’s output in 2013 to 342,000 tons of polypropylene (14% less than 2012); the company posted a net profit of SAR 208.3m in 2013 compared to SAR 108.9m in 2012”; Allujain said.

Allujain Corporation reported a net profit of SAR 109.8m in 2013 (SAR 1.59/share), 112% higher than 2012 profits of SAR 51.7m.