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SIIG announces the development of a Bio-Protein production project with Unibio.
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SIIG
0.42
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1447/09/26 15/03/2026 15:48:02
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Industrial Investment Group (SIIG) announces that its Board of Directors has approved the development of a dry gas-based Bio-Protein production project in Jubail Industrial City, that will produce 50 KTA of single cell-protein. The project is being developed in partnership with Unibio PLC, a global technology provider. SIIG owns 80% of the project, while Unibio PLC owns 20%. The partners have also obtained an allocation of dry gas from the Ministry of Energy as feedstock for the project. |
| Date of Board Resolution in Regard to the Project | 2026-03-15 Corresponding to 1447-09-26 |
| Project Start Date | It is expected that the construction of the Project will begin during the 2nd half of 2026. |
| Project Cost | The initial total estimated cost of the Project is SAR 1.4 billion. |
| Financing method for the project | The Project will be funded using the Company’s internal resources and by commercial and government financial institutions. |
| Expected completion date of the project | It is expected that the construction of the Project will be completed during the 2nd half of 2027 |
| Expected Financial Impact of the Project on the Company’s Results | The project is expected to contribute to the company's revenues and profits. |
| The Start of the Expected Impact of the Project on the Company’s Results | The Project’s impact on the Company’s results is expected to begin during 2028. |
| Expected Date for the Pilot Production of the Project to Begin | 2nd half of 2027 |
| Duration of the pilot production of the project | 6 Months |
| Expected date for the commercial production of the project | 1st half of 2028 |
| Executing Party/Counter Party in the Project/Contract | Contractors and suppliers will be awarded from both inside and outside the Kingdom |
| Related Parties | There are no related parties. |
| Additional Information | It is worth noting that SIIG currently owns 24% of Unibio PLC, a leading company in the bio-protein production technology sector. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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