Saudi Industrial Investment Group (SIIG) is developing a bio-protein production project in Jubail Industrial City with a view to supporting growth in Saudi ArabianSaudi Industrial Investment Group (SIIG) is developing a bio-protein production project in Jubail Industrial City with a view to supporting growth in Saudi Arabian

$370m Jubail plant to support Saudi aquaculture

2026/03/17 20:14
2 min read
For feedback or concerns regarding this content, please contact us at [email protected]

Saudi Industrial Investment Group (SIIG) is developing a bio-protein production project in Jubail Industrial City with a view to supporting growth in Saudi Arabian aquaculture.

The project, in the country’s Eastern Province, will use natural gas as feedstock to produce 50 kilotonnes of single-cell protein per year, the company said in a statement to the Saudi stock exchange.

The plant, which will be owned 80 percent by SIIG and 20 percent by UK-headquartered Unibio, is estimated to cost SAR1.4 billion ($370 million).

Construction is expected to start in the second half of 2026, with completion likely in the final six months of next year. Commercial production is slated to start in the first half of 2028, following a six-month trial run in the second half of 2027.

The plant will make Uniprotein, a single-cell protein, for use in aquaculture feed, Unibio CEO David Henstrom told seafood and aquaculture news website IntraFish.

Local production will provide year-round supplies of sustainable protein for fish and shrimp farmers, he said.

SIIG invested $70 million in Unibio in March 2023 and owns 24 percent of the protein producer.  

Shares in SIIG closed 1.66 percent higher at SAR12.87 on Monday, up 3.62 percent so far this year.

The state-owned General Organization for Social Insurance owns 18.58 percent of SIIG, according to the Saudi Exchange website.

Further reading:

  • High hopes as Saudi exchange prepares to welcome foreigners
  • Tadawul operator proposes dividend despite profit drop
  • Almasar Alshamil plans Gulf expansion after $160m float
Market Opportunity
Manchester City Fan Logo
Manchester City Fan Price(CITY)
$0.5295
$0.5295$0.5295
+0.18%
USD
Manchester City Fan (CITY) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

The post Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny appeared on BitcoinEthereumNews.com. The cryptocurrency world is buzzing with a recent controversy surrounding a bold OpenVPP partnership claim. This week, OpenVPP (OVPP) announced what it presented as a significant collaboration with the U.S. government in the innovative field of energy tokenization. However, this claim quickly drew the sharp eye of on-chain analyst ZachXBT, who highlighted a swift and official rebuttal that has sent ripples through the digital asset community. What Sparked the OpenVPP Partnership Claim Controversy? The core of the issue revolves around OpenVPP’s assertion of a U.S. government partnership. This kind of collaboration would typically be a monumental endorsement for any private cryptocurrency project, especially given the current regulatory climate. Such a partnership could signify a new era of mainstream adoption and legitimacy for energy tokenization initiatives. OpenVPP initially claimed cooperation with the U.S. government. This alleged partnership was said to be in the domain of energy tokenization. The announcement generated considerable interest and discussion online. ZachXBT, known for his diligent on-chain investigations, was quick to flag the development. He brought attention to the fact that U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce had directly addressed the OpenVPP partnership claim. Her response, delivered within hours, was unequivocal and starkly contradicted OpenVPP’s narrative. How Did Regulatory Authorities Respond to the OpenVPP Partnership Claim? Commissioner Hester Peirce’s statement was a crucial turning point in this unfolding story. She clearly stated that the SEC, as an agency, does not engage in partnerships with private cryptocurrency projects. This response effectively dismantled the credibility of OpenVPP’s initial announcement regarding their supposed government collaboration. Peirce’s swift clarification underscores a fundamental principle of regulatory bodies: maintaining impartiality and avoiding endorsements of private entities. Her statement serves as a vital reminder to the crypto community about the official stance of government agencies concerning private ventures. Moreover, ZachXBT’s analysis…
Share
BitcoinEthereumNews2025/09/18 02:13
White House ballroom architect speaks out against Trump immigration policies

White House ballroom architect speaks out against Trump immigration policies

Shalom Baranes, a Libyan refugee and chief architect for President Donald Trump’s White House ballroom project, described the president’s immigration policies as
Share
Rawstory2026/03/22 00:47
Longtime Republican laments the GOP collapse into the 'gutter'

Longtime Republican laments the GOP collapse into the 'gutter'

Republican strategist Steve Schmidt says he’s been a Republican for nearly 30 years, long enough to see it’s sad “devolution” over the last few.“Yesterday, was
Share
Alternet2026/03/21 23:54