Saudi Basic Industries Corporation (Sabic) has signed a global licensing deal with Italy’s carbon-fibre specialist Montefibre.

The petrochemical’s giant has also said that the technology agreement would result in a carbon-fibre plant eventually being built in the kingdom.

“This carbon-fibre project will be the basis for the creation of a world-class carbon composites value chain in Saudi Arabia and a valuable extension of our offering of innovative products and services to our customers in key markets,” says Koos van Haasteren, executive vice-president, Performance Chemicals at Sabic.

No further details or a timeline of the project was issued by either company.