The company said in a statement on the Saudi Stock Exchange website: The project has a design capacity of 50,000 tons per year, in partnership with Unibio PLC, the technology provider, with 80% ownership for the Saudi group and 20% for Unibio.
The project has received approval from the Ministry of Energy to allocate feedstock from dry gas, with the expectation that construction of the project will begin during the second half of 2026.
The initial estimated cost of the project is approximately 1.4 billion riyals, noting that the project will be financed through the company’s resources, bank facilities and other financing sources.
The project is expected to be completed during the second half of 2027, noting that it is expected to contribute to raising the company's revenues and profits.
According to the statement, the impact on the company's financial results is expected to begin in 2028.
She indicated that the trial production period for the project is 6 months, noting that contracts have been signed with contractors and suppliers from inside and outside the Kingdom.
It is worth noting that the Saudi group currently owns 24% of Unibio PLC, a leading company in the bioprotein production technology sector.
