SABIC participates in PIF Private Sector Forum 2026, signs pioneering agreement for supply of raw material to manufacture tires in the Kingdom

The Saudi Basic Industries Corporation (SABIC) signed an agreement with the joint venture established between the Public Investment Fund (PIF) and Pirelli, for the supply of polybutadiene rubber and carbon black to achieve 3.5 million tires annually – a major milestone toward empowering and advancing local content in the Kingdom of Saudi Arabia through its localization initiative, NUSANEDTM.

The agreement was signed on the first day of the PIF Private Sector Forum 2026 in Riyadh and it is considered first of its kind as it supplies raw materials for producing car tires locally in the Kingdom in a plant located in the King Salman Automotive Cluster at King Abdullah Economic City. In this regard, a bespoke Saudi trademark will be launched for providing passenger vehicles and car manufacturers in the region with tires, in addition to Pirelli tires.

The fourth edition of the PIF Private Sector Forum is a unique opportunity to bring together various stakeholders by connecting PIF companies, government agencies, investors and private sector firms to facilitate new partnerships and drive the next wave of projects that enable the private sector. The Forum also provides an effective platform to explore promising opportunities that support business growth and help shape the future of the Saudi economy, in line with the goals of Saudi Vision 2030.