- LG Chem and Alkhorayef Group sign partnership to supply advanced water solutions to the Kingdom of Saudi Arabia
- Establish RO membrane production facility and technical center to address increasing regional RO demand
Seoul, May 1, 2024 – LG Chem, a leading global chemical company headquartered in South Korea with a diversified business portfolio in the key areas of petrochemicals, advanced materials including water solutions, and life sciences, and Alkhorayef Group, a leading Saudi Arabian industrial conglomerate specializing in water, energy, and agriculture sectors, agreed to form a partnership to bring advanced water solutions to the Kingdom of Saudi Arabia (KSA).
Firstly, both parties will establish a Reverse Osmosis (RO) membrane production facility and technical center in the KSA. The collaboration leverages LG Chem’s cutting-edge technical expertise in RO membranes and Alkhorayef Group’s long-standing industrial legacy and local expertise derived from its position as one of the most respectable private companies in the KSA.
Aiming to commence the production facility and the technical center from the outset of 2026, both parties are dedicated to delivering high-quality products to address the increasing local RO membrane demand in the region.
This collaboration extends beyond production and R&D, encompassing joint efforts in sales and marketing activities for RO membranes, as well as exploring new business opportunities within the related water industry.
The partnership will also actively explore the localization of full membrane manufacturing in the KSA, and foster discussions on advancement of the local water industry. Both parties are committed to contributing to the sustainable development of the region by addressing pressing needs on innovative water solutions.
“We at Alkhorayef Group are thrilled to announce our partnership with LG Chem, a leading water desalination technology provider, to establish a Reverse Osmosis membrane manufacturing facility. This strategic investment opportunity aligns with the goals of Saudi Vision 2030. The partnership aspires to contribute to the localization of strategic industries, in addition to the non-oil sector GDP. We believe that our long market standing and ability to build relationships and alliances will be of great advantage for this partnership. We look forward to embarking on this new horizon with LG Chem and working together towards a brighter future for the Kingdom’s water sector”, said Mohammed Alkhorayef, Group CEO at Alkhorayef Group.
“We are excited about the potential this collaboration holds for creating a positive impact to achieve Vision 2030 in the Kingdom of Saudi Arabia. This partnership symbolizes the fusion of two rich cultures, two distinct expertise, and two shared visions for the future. Together with Alkhorayef Group, we not only seek to meet the demands to localize RO membranes, but also look forward to delivering innovative solutions to contribute development of water industry in the region, for the future of the Kingdom of Saudi Arabia.” stated Dr. Hoon Hyung, Vice president at LG Chem.
Alkhorayef and LG Chem are confident that this strategic partnership will play a pivotal role in advancing technological solutions for water treatment and contribute to the overall development of the region.