Riyadh - Mubasher: The Saudi Industrial Investment Group (SIIG) and Unibio International PLC inked a SAR 1.40 billion deal to establish the world’s largest single-cell protein plant in Jubail Industrial City.
SIIG will hold an 80% stake in the project, while Unibio will own the remaining 20%, according to a bourse statement.
The project will produce 50,000 tons of single-cell protein annually using dry gas as feedstock, which has been allocated by the Ministry of Energy. The joint venture (JV) plans to boost production capacity to over 300,000 tons in the coming years.
Meanwhile, the construction is expected to begin in the second half (H2) of 2026 and be completed by H2-27.
Pilot production is scheduled to start in July-December 2027 for a duration of six months, ahead of commercial operations in H1-28.
The project, expected to contribute to the SIIG’s revenues and profits during 2028, will be financed through a mix of internal resources and funding from commercial and government financial institutions.
David Henstrom, CEO of Unibio, commented: “The world needs innovators who collectively want to find a solution to providing food stability for future generations. We believe that our fermentation technology, which incorporates the most efficient reactor of its kind in gas fermentation, is ideal for Saudi Arabia.”
Abdulrahman Alismail of SIIG, added: “Using Unibio’s technology, we aim to make Saudi Arabia the leader in single-cell protein production and improve food security for both Saudi Arabia and the world’s growing population.”
During 2025, SIIG incurred a net loss attributable to the owners worth SAR 104 million, versus net profits of SAR 201 million in 2024.
