Ruya Partners, a private credit fund manager based in Abu Dhabi Global Market (ADGM), has secured a $55 million (SAR 206 million) investment to fund the development of a high-tech staple fiber production plant in Yanbu, Saudi Arabia.
This transaction was completed as part of a consortium that included a fund managed by a leading regional financial institution. The investment will support Al Shair Group’s upcoming facility, which aims to enhance local production of hygiene nonwoven fibers and strengthen Saudi Arabia’s domestic supply chain.
Boosting Saudi Arabia’s Manufacturing Capacity
The new facility is designed to supply raw materials to United Saudi Company (USC), the Kingdom’s only dry-laid hygiene nonwoven manufacturer. USC is fully owned by the Al Shair Group. This investment plays a key role in vertically integrating the Group’s operations and shifting the entire production chain into Saudi Arabia.
With construction already in progress, the plant is expected to begin operations within two years. Its initial capacity will be 30,000 metric tons, with plans to scale up to 50,000 metric tons in the next phase. This expansion will improve production efficiency and help meet growing demand in the regional hygiene sector.
Aligning With Vision 2030 Goals
Mirza Beg, Partner and Co-Chief Investment Officer of Ruya Partners, said:
“We firmly believe this hygiene nonwoven fiber production plant will play a pivotal role in meeting increasing regional demand and strengthening Saudi Arabia’s position in this vital market.”
Talal Al Shair, Founder and Executive Chairman of Al Shair Group, highlighted the broader vision behind the project:
“This facility will not only boost local capacity but also advance Saudi Arabia’s industrial diversification and circular economy objectives under Vision 2030.”
Strengthening Ruya’s Regional Portfolio
This marks the fifth deployment by the Ruya Private Capital Fund I and the fourth investment supporting corporate growth in Saudi Arabia. Omar Al Yawer, Partner and Chief Capital Formation Officer at Ruya Partners, noted:
“This investment underscores our ongoing commitment to funding transformative companies driving the Kingdom’s economic diversification.”
Through strategic capital placement and regional collaboration, Ruya Partners continues to empower industrial innovation and sustainable growth across the Middle East.
