Saudi Industrial Investment Group (SIIG) has signed two strategic agreements that position the company at the forefront of Saudi Arabia’s industrial diversification drive — one with the Shareek Program under the patronage of the Ministry of Energy, and another with the Ministry of Investment to enable bio-protein production at Jubail Industrial City using dry gas. The signings mark a significant step in localizing advanced biotechnology within Saudi Arabia’s petrochemical heartland.
Joining the Shareek Program Framework
The agreement with the Shareek Program — Saudi Arabia’s initiative to catalyze private sector investment in partnership with the government — grants SIIG eligibility to apply for enablement programs designed to accelerate industrial projects of national significance. The framework sets out eligibility criteria and support terms, and remains in effect until December 31, 2030, aligning with the Kingdom’s Vision 2030 industrial strategy.
Shareek, launched by the Crown Prince in 2021, targets SAR 5 trillion in private sector investments by 2030, with a focus on strategic industries including energy, chemicals, and advanced manufacturing. SIIG’s entry into the program signals a deepening commitment to growing its industrial footprint in step with national priorities.
Bio-Protein Production in Jubail Using Dry Gas
The agreement with the Ministry of Investment specifically enables SIIG to pursue bio-protein production at Jubail Industrial City, using dry gas as a feedstock — a technology being developed in partnership with UK-based Unibio PLC. The collaboration aims to localize Unibio’s advanced gas fermentation technology in Saudi Arabia, which converts natural gas into high-quality single-cell protein used as sustainable animal feed.
Bio-protein production aligns with Saudi Arabia’s growing focus on food security and sustainable industrial inputs, two pillars of the Vision 2030 agenda. Jubail Industrial City, one of the world’s largest industrial complexes managed by the Royal Commission for Jubail and Yanbu, provides an ideal ecosystem for scaling such technologies given its existing gas infrastructure, water utilities, and proximity to global shipping routes.
No Immediate Financial Impact, Future Announcements Ahead
In its disclosure to the Saudi Exchange, SIIG stated that the agreements currently have no financial impact on existing operations or ongoing projects. The company indicated that any material financial or operational developments resulting from these programs will be announced as they occur. The agreements nonetheless represent a strategic platform from which SIIG expects to build new revenue streams, supporting both its own growth plans and Saudi Arabia’s broader objective of becoming a hub for high-value industrial production.
