Riyadh – Mubasher: SABIC Agri-Nutrients Company’s board approved the final investment decision (FID) for its seventh project and awarded the Engineering, Procurement, and Construction (EPC) contract to Samsung E&A Company Limited.
The project will comprise an integrated industrial complex featuring an ammonia plant with an annual production capacity of 1.20 million metric tons, two urea plants with a combined annual capacity of 2.60 million metric tons, and a post-combustion carbon capture unit.
The EPC contract was awarded for approximately $3.46 billion. Construction is expected to commence in the fourth quarter (Q4) of 2026, with commissioning scheduled for Q3-30 for four months ahead of the start of commercial operations and project completion in Q4-30.
Upon completion, the project is expected to boost the group’s urea production capacity from 4.80 million metric tons per annum to 7.40 million metric tons per annum, representing an increase of approximately 54%.
The project is also expected to strengthen the listed group’s competitiveness and sustainability through the integration of advanced carbon capture technologies and reduced emissions intensity across its operations.
Moreover, the initiative could lower the carbon footprint of its products and support the company’s sustainability and carbon neutrality ambitions.
The project is considered a key pillar of SABIC’s 2040 strategy, which seeks to strengthen the Kingdom’s position in the global agricultural nutrients export market and contribute to global food security, in line with the objectives of Saudi Vision 2030.
The financial impact of the project is expected to be reflected in SABIC Agri-Nutrients’ financial results following its completion and the commencement of commercial operations.
SABIC Agri-Nutrients will evaluate various financing options for the project, including loans and funding from its own cash flows.
The company confirmed that there are no related parties involved in the project and said it will announce any material developments or events related to the project in accordance with applicable rules and regulations.
In the first half (H1) of 2026, the group’s net profit reached SAR 1.60 billion, down 21.43% from SAR 2.04 billion in H1-25.
