Public RecordRecord
Sabic Agri-Nutrients awards $3.5bn contract to Samsung E&A
Engineering, procurement and construction contract covers ammonia and urea complex in Saudi Arabia with 2030 completion target.
Contract award and project scope#
Sabic Agri-Nutrients, a company 50 percent owned by Saudi Basic Industries Corporation, has awarded an engineering, procurement and construction contract valued at $3.5 billion to Samsung E&A, according to a filing on the Saudi bourse dated 11 September 2026. The contract covers construction of an ammonia plant with annual production capacity of 1.2 million metric tonnes, two urea plants with combined annual production capacity of 2.6 million metric tonnes, and a post-combustion carbon capture unit. Construction is scheduled to commence in the fourth quarter of 2026.
Timeline and financing structure#
Commercial operations are scheduled to begin in the third quarter of 2030, the filing stated. The company is evaluating various financing options, including loan facilities and cash flow utilisation, according to the disclosure. The Saudi Energy Ministry committed to feedstock supply for the project in March 2026. Upon completion, the project will increase Sabic Agri-Nutrients' urea production capacity by 54 percent, bringing total capacity to 7.4 million metric tonnes per annum.
Company ownership and market performance#
Shares of Sabic Agri-Nutrients traded at SAR126.30 on 12 September 2026, representing a 0.4 percent increase, according to market data. The shares have gained approximately 14 percent year to date. The project forms part of the company's 2040 strategy, which targets positioning as one of the world's largest producers and exporters of ammonia and urea, the filing stated.
Production capacity expansion#
The ammonia plant will add 1.2 million metric tonnes per annum to the company's production capacity, while the two urea plants will contribute a combined 2.6 million metric tonnes per annum. The post-combustion carbon capture unit will be integrated into the facility design. Samsung E&A will handle engineering, procurement and construction activities under the $3.5 billion contract.
Sources1 source across 1 domain
- agbi.comagbi.comContract value of $3.5 billion, Samsung E&A as contractor, ownership structure, production capacities, construction start date, commercial operations date, financing options, feedstock commitment date, capacity increase percentage, share price and performance data, 2040 strategy reference
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