‎SIIG develops SAR 1.4B bio-protein production project with Unibio

Saudi Industrial Investment Group’s (SIIG) board of directors approved the development of a dry gas-based bio-protein production project in Jubail Industrial City, at an initial estimated cost of about SAR 1.4 billion and an annual capacity of 50,000 tons of single cell-protein.

The project is being developed in partnership with 24%-owned Unibio PLC, a global technology provider. SIIG owns 80% of the project, while Unibio PLC retains 20%, the company said in a statement to Tadawul.

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The partners have also obtained an allocation of dry gas from the Ministry of Energy as feedstock for the project, it added.

According to the company, on-site construction works are expected to begin during the second half of 2026 and are slated for completion during the second half of 2027.

The project will be funded using the company’s internal resources and through commercial and government financial institutions.

The project is expected to contribute to the company’s revenues and profits. Its related impact on the company’s results is likely to begin showing during 2028.

Pilot production of the project is set to commence in H2 2027, SIIG said, adding that trial operations would run for six months.

SIIG underlined that contractors and suppliers will be awarded from both inside and outside the Kingdom. It noted that there are no related parties to the deal.

Saudi Industrial Investment Group’s (SIIG) board of directors approved the development of a dry gas-based bio-protein production project in Jubail Industrial City, at an initial estimated cost of about SAR 1.4 billion and an annual capacity of 50,000 tons of single cell-protein.

The project is being developed in partnership with 24%-owned Unibio PLC, a global technology provider. SIIG owns 80% of the project, while Unibio PLC retains 20%, the company said in a statement to Tadawul.

The partners have also obtained an allocation of dry gas from the Ministry of Energy as feedstock for the project, it added.

According to the company, on-site construction works are expected to begin during the second half of 2026 and are slated for completion during the second half of 2027.

The project will be funded using the company’s internal resources and through commercial and government financial institutions.

The project is expected to contribute to the company’s revenues and profits. Its related impact on the company’s results is likely to begin showing during 2028.

Pilot production of the project is set to commence in H2 2027, SIIG said, adding that trial operations would run for six months.

SIIG underlined that contractors and suppliers will be awarded from both inside and outside the Kingdom. It noted that there are no related parties to the deal.