Saudi Industrial Investment Group (SIIG) has approved a SAR 1.4 billion bio-protein production project in Jubail Industrial City, with an annual capacity of 50,000 tons of single-cell protein. The project, developed in partnership with Unibio PLC (24%-owned by SIIG), will use dry gas allocated by the Saudi Ministry of Energy as feedstock. Construction is expected to start in H2 2026 and finish by H2 2027, with pilot production beginning in H2 2027 and lasting six months. Funding will come from internal resources and government/commercial institutions. The project is anticipated to contribute to SIIG’s revenues and profits starting in 2028. This initiative aligns with Saudi Arabia’s Vision 2030 goals for industrial diversification and sustainability. The bio-protein market is growing globally due to demand for alternative protein sources in animal feed and food industries. For traders, SIIG’s expansion into high-value manufacturing could enhance its earnings potential, potentially boosting its stock performance. The project’s reliance on domestic energy resources also underscores Saudi Arabia’s strategic push to leverage its natural assets beyond oil exports. For Gulf investors, the project’s scale and long-term revenue prospects make it a key catalyst for SIIG’s growth. Traders should monitor construction progress, regulatory approvals, and the project’s impact on SIIG’s quarterly financial reports starting in 2028. Additionally, the involvement of local and international contractors highlights opportunities for regional supply chain players.
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