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Saudi Companies' H2 2024 Key Projects Summary: What to Expect and When They Will Be Completed
SABIC +0.46%
SAUDI ARAMCO -1.73%
PETRO RABIGH -1.06%
RETAL +0.73%
DAR ALARKAN -1.57%
SABIC 2010.SA | 54.65 | +0.46% |
SAUDI ARAMCO 2222.SA | 23.90 | -1.73% |
PETRO RABIGH 2380.SA | 7.45 | -1.06% |
RETAL 4322.SA | 12.34 | +0.73% |
DAR ALARKAN 4300.SA | 15.08 | -1.57% |
In this update, a list of significant projects and expansions launched by Saudi-listed companies in the second half of 2024 is provided, based on their public disclosures.
The compilation serves as a resource for investors, offering clear insights into key projects and expansions that will shape the landscape of Saudi-listed companies in the near future. By detailing the timing and scope of these initiatives, it enables investors to identify where their attention should be focused and when, providing a roadmap for strategic decision-making and helping them stay informed about potential opportunities and developments in the market.
Key Projects of Saudi Companies Announced in H2 2024
Petrochemicals
| Company | Project Name | Target Date | Project Details |
|---|---|---|---|
| Saudi Basic Industries Corp.(2010.SA) | Engineering Thermoplastics Compounding Plant | - | Establishment of a thermoplastics compounding plant in Changzhou, Fujian Province, China. It will feature production lines for SABIC's LEXAN™ Polycarbonate (PC) and CYCOLOY™ PC/ABS blends. |
| Saudi Arabian Oil Co.(2222.SA) | Petrochemicals Complex in Fujian, China | 2030 | A new integrated refining and petrochemicals complex featuring a 16 million tons-per-year oil refining unit and several downstream units. |
| SASREF Expansion Project | - | Expansion of refining and petrochemical capacities at Saudi Aramco Jubail Refinery Co. (SASREF) to enhance international collaboration. | |
| Rabigh Refining and Petrochemical Co.(2380.SA) | Advanced Products Plant | - | A new plant in Rabigh to produce specialty chemicals from ethylene oxide and propylene oxide. |
Real Estate Development
| Company | Project Name | Target Date | Project Details |
|---|---|---|---|
| Retal Urban Development co.(4322.SA) | Residential Units – Khozam Suburb | 2029 | 947 residential units in various designs at Khozam suburb, Riyadh. |
| Residential Units – Sedra Neighborhood | 2027 | 644 residential units in Sedra neighborhood, Riyadh. | |
| Residential Units – Al-Fursan District | 2027 | 502 residential units in Al-Fursan District, Riyadh. | |
| Dar Alarkan Real Estate Development Co.(4300.SA) | The Weekend – Qatar | 2027 | A residential project in Qatar featuring two-bedroom sea-front apartments. |
| Trump Tower – Dubai | 2025 | A residential tower in Dubai with Trump-branded hotel and residences. | |
| Neptune – Riyadh | 2027 | A residential project in Riyadh featuring 200 luxury villas. | |
| Trump Tower – Jeddah | - | A 47-storey luxury residential tower in Jeddah overlooking the Red Sea. | |
| Al Kathiri Holding Co.(3008.SA) | Commercial/Hospitality Project | - | A mixed-use development in Abha, Aseer, featuring a hotel, retail, and entertainment spaces. |
Energy, Industry & Utilities
| Company | Project Name | Target Date | Project Details |
|---|---|---|---|
| ACWA POWER Co.(2082.SA) | Rumah-1 IPP | 2028 | A joint venture to establish a 1.8 GW independent power plant (IPP) with SEC and KEPCO. |
| Nairyah-1 IPP | 2028 | A JV project to establish another 1.8 GW IPP with SEC and KEPCO. | |
| Wind Power Plant – Gotion Power | 2026 | A 500 MW wind power plant in Morocco with a 2-GWh battery storage system. | |
| Sazagan Solar PV Power Stations | 2027 | Solar PV power stations in Uzbekistan, with a capacity of 500 MW and 334 MW BESS. | |
| Saguling Project | - | A 60 MW PV solar power plant in Indonesia. | |
| Almarai Co.(2280.SA) | Cheese Production Lines – Beyti | - | New cheese production lines for Beyti in Egypt as part of Almarai’s regional expansion. |
| Sahara International Petrochemical Co.(2310.SA) | Expansion of EVA Plant | 2027 | Increasing the annual production capacity by 70,000 tons (high-grade EVA) to reach approximately 290,000 tons a year. |
| Propylene & PP Plants Expansion | 2026 | Increasing the annual production capacity by 72,000 metric tons of propylene and 150,000 metric tons of PP, resulting in a total capacity of approximately 537,000 metric tons of propylene and 600,000 metric tons of PP. | |
| Middle East Paper Co.(1202.SA) | TM6 Expansion Project | 2026 | Installing a new sixth production line (TM6) for jumbo rolls and sanitary paper, hence doubling the annual capacity by 60,000 tons, bringing the total capacity to 120,000 tons. |
| National Shipping Company of Saudi Arabia(4030.SA) | Very Large Crude Carriers (VLCCs) | 2025 | Adding nine fuel-efficient VLCCs, expanding the fleet to 49 vessels. |
| Saudi Arabian Oil Co.(2222.SA) | Carbon Capture & Storage (CCS) Hub | 2027 | Launching a CCS hub in Jubail, with the first phase targeting a capacity of up to nine million metric tons of carbon dioxide annually. |
Agriculture & Food Industries
| Company | Project Name | Target Date | Project Details |
|---|---|---|---|
| Tanmiah Food Co(2281.SA) | Advanced Broiler Farms | 2027 | Development of 100 advanced broiler farms equipped with automation technologies. |
| Abdulaziz and Mansour Ibrahim Albabtin Co.(9549.SA) | Chocolate Production Plant | - | Constructing a chocolate factory in Saudi Arabia. |
| Modern Mills for Food Products Co.(2284.SA) | Animal Feed Plant – Al Jumum | 2026 | A new animal feed factory in Al Jumum, producing 422,000 metric tons annually. |
Healthcare
| Company | Project Name | Target Date | Project Details |
|---|---|---|---|
| Dr. Soliman Abdel Kader Fakeeh Hospital Co.(4017.SA) | Dr. Soliman Fakeeh Medical Center – Al Narjis | - | Developing a medical center in Riyadh to expand healthcare services. |
| Medical Skills & Training Center | 2025 | A 7,200 sqm training center with 15 classrooms and a lab. | |
| Educational Facility – Jeddah | - | Constructing an educational facility in Jeddah on a 2,529-sqm plot. |
