Sabic for Nutrients awards $3.46B contracts
SABIC Agricultural Nutrients has awarded a contract worth $3.46 billion to Samsung for the implementation of a project that includes establishing a complex comprising a plant to produce ammonia with a capacity of 1.2 million tons annually, two urea production plants with a total capacity of up to 2.6 million tons per year, and a carbon capture unit. The project is expected to commence operations in the fourth quarter of 2023, with commercial production beginning in the fourth quarter of 2030. This will increase the company's urea production by 54%, from 4.8 million to 7.4 million tons annually. The project aims to strengthen SABIC’s position in the nutrients market, support its sustainability goals, and reduce its carbon footprint. It is part of the company's strategy through 2040 to realize its vision of supporting global food security and enhancing Saudi Arabia’s standing in export markets.
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