BRIEF-Sauid's SIIG Announces Development Of Bio-Protein Production Project With Unibio

SIIG -1.92%

SIIG

2250.SA

13.76

-1.92%

March 15 (Reuters) - SAUDI INDUSTRIAL INVESTMENT GROUP SJSC 2250.SE:

  • ANNOUNCES DEVELOPMENT OF A DRY GAS-BASED BIO-PROTEIN PRODUCTION PROJECT IN JUBAIL INDUSTRIAL CITY WITH UNIBIO

  • INITIAL TOTAL ESTIMATED COST OF THE PROJECT IS SAR 1.4 BILLION.

  • CONSTRUCTION OF PROJECT EXPECTED TO BEGIN DURING 2ND HALF OF 2026

  • OWNS 80% OF THE PROJECT, WHILE UNIBIO PLC OWNS 20%

  • EXPECTS CONSTRUCTION OF PROJECT WILL BE COMPLETED DURING H2 OF 2027

  • PARTNERS OBTAINED AN ALLOCATION OF DRY GAS FROM THE MINISTRY OF ENERGY AS FEEDSTOCK FOR THE PROJECT

Source text: ID:nSSE1CDnh1

Further company coverage: 2250.SE


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