SIIG signs agreements with Shareek, Investment Ministry to enable bio-protein production

Under the patronage of the Ministry of Energy, Saudi Industrial Investment Group (SIIG) signed an agreement to join project enablement programs with the Shareek Program, which promotes partnerships with the private sector.

It also signed an agreement with the Ministry of Investment to enable bio-protein production in Jubail Industrial City using dry gas.

In a statement to Tadawul, the company pointed out the agreements remain in effect until eligibility obligations expire on Dec. 31, 2030.

The agreement sets the company’s eligibility criteria and allows it to apply for enablement programs under the framework support agreement terms.

Moreover, SIIG is working with Unibio PLC to localize advanced technology, which is expected to support the group’s growth and expansion plans in line with its strategy.

The company noted that there is currently no financial impact on its existing operations or ongoing projects, adding that any material developments will be announced in due course.