Abu Dhabi, United Arab Emirates: Ruya Partners, an Abu Dhabi Global Market based private credit fund manager, has announced the successful closing of a USD 55 million (SAR 206 million) private credit investment to fund the development of an innovative hygiene nonwoven fiber production plant in Yanbu, Kingdom of Saudi Arabia. The investment was completed as part of a consortium with a fund managed by a leading regional financial institution.
This investment marks a significant step in advancing the region’s production capabilities in nonwoven materials, addressing the growing demand within the hygiene sector and contributing to the Kingdom’s broader vision of industrial diversification and sustainable economic growth, aligned with the ambitious Saudi Vision 2030.
The investment will support the construction of a state-of-the-art staple fiber production facility owned by the Al Shair Group. The plant will be a raw material supplier to United Saudi Company (USC), the only dry-laid hygiene nonwoven manufacturer in Saudi Arabia and wholly owned by the Al Shair Group. The construction of this facility will result in the culmination of a strategically important vertical integration of Al Shair’s nonwoven operations, enabling the whole supply chain and all related value-add to be brought into Saudia Arabia. Located adjacent to USC, the facility and USC will both benefit from competitive production and transportation costs, as well as efficient supply chain logistics and increased security of raw material supplies.
Upon commencing operations, which are anticipated within a two-year timeline, the plant will have an initial production capacity of 30,000 metric tonnes. Plans are already in place to expand this capacity to 50,000 metric tonnes during a subsequent phase of development, thereby fostering increased production efficiencies and effectively meeting the region’s growing market demand.
Mr. Mirza Beg, Partner and Co-Chief Investment Officer of Ruya Partners, said: “Our collaboration with the Al Shair Group is another example of Ruya Partners’ track record of supporting essential growth sectors in Saudi Arabia. This project showcases our dedication to financing impactful initiatives that foster economic resilience and innovation while contributing to enhancing the quality of life. We firmly believe that this hygiene nonwoven fiber production plant will play a pivotal role in meeting the increasing regional demand and strengthening Saudi Arabia’s position in this vital market.”
Dr. Talal Al Shair, Founder and Executive Chairman of Al Shair Group, emphasized the strategic importance of this upstream integrated project, stating: “We are proud to have Ruya Partners and the consortium join us as investors in this project, which represents a key milestone in strengthening Saudi Arabia’s industrial base. The new facility will not only enhance local production capacity for hygiene nonwoven fibers but also support the Kingdom’s strategic goal of industrial diversification, integration and support the circular economy under Vision 2030. We look forward to contributing to the sector’s growth and creating long-term value for the market.”
“This latest investment marks a meaningful milestone as Ruya Private Capital Fund I’s fifth deployment and the fourth financing supporting Saudi Arabia’s corporate growth. We are proud to back a project that contributes directly to Vision 2030 through localized production, vertical integration, and supply chain resilience. This collaboration highlights our continued commitment to providing strategic capital to transformative companies that are powering the Kingdom’s economic diversification.” Added Omar AlYawer, Partner & Chief Capital Formation Officer of Ruya Partners.
Ruya Partners is an Abu Dhabi Global Market based independent private credit investment fund manager that provides bespoke funding solutions to private sector companies in developing markets. Ruya Partners works with business owners, family offices, financial sponsors and management teams to develop a deep understanding of their businesses and create tailored financing solutions that are structured to fit the companies’ strategic and business plan needs, thereby delivering flexible, value-added capital through a partnership approach. Through the private credit fund it manages, Ruya Partner’s funding solutions are typically utilized by companies for capital expenditures, growth, expansion, long-term working capital liquidity, acquisitions, balance sheet recapitalization and shareholder base rationalization, among other needs. For more information on Ruya Partners, visit www.ruyapartners.com.
Al Shair Group is a diversified Saudi conglomerate with a strong presence in petrochemicals, fiber-reinforced polymers, and industrial manufacturing. The Group operates globally across industries such as nonwoven fabrics, fiberglass, recycling, gold refining, and HDPE pipes. Committed to innovation and sustainability, Al Shair Group actively supports Saudi Arabia’s Vision 2030 by enhancing local production capacity and contributing to economic diversification. For more information, visit www.alshair.com.sa.
About Al Shair Group
Al Shair Group is a diversified Saudi conglomerate with a strong presence in petrochemicals, fiber-reinforced polymers, and industrial manufacturing. The Group operates globally across industries such as nonwoven fabrics, fiberglass, recycling, gold refining, and HDPE pipes. Committed to innovation, sustainability, and industrial excellence, Al Shair Group actively supports Saudi Arabia’s Vision 2030 by enhancing local production capacity and contributing to economic diversification. The Group’s integrated approach and investment in advanced technologies continue to position it as a leader in key industrial sectors both within the Kingdom and internationally. For more information, visit: www.alshair.com.sa.
About Ruya Partners Limited
Ruya Partners Limited is an independent private credit fund manager that provides bespoke funding solutions to private sector companies in developing markets. Ruya Partners is regulated by the ADGM Financial Services Regulatory Authority to manage a collective investment fund which is classified as a Private Credit Fund. The transaction referred to herein was executed by a private credit fund managed by Ruya Partners Limited. The Fund’s investor base includes Sovereign Wealth Funds, SWF-backed and public pension funds, and other institutional investors. For more information on Ruya Partners, visit www.ruyapartners.com.