SABIC Agri-Nutrients Company (SABIC AN), owned 50.1 percent by Saudi Basic Industries Corporation (SABIC), will soon take the Final Investment Decision (FID) on its planned seventh ammonia and urea plant, according to a news report.

The new plant is expected to increase sales volumes by nearly 54 percent, CEO Fahad Albattar told Argaam, an Arabic financial website.

The plant will produce 1.2 million metric tonnes per annum (mtpa) of conventional ammonia and 2.6 mtpa of urea.

In March, the Ministry of Energy approved the allocation of feedstock for its seventh plant. 

Albattar said the company is ready to proceed with its sixth plant in Jubail Industrial City, which is designed to produce 1.2 million metric tonnes of low-carbon blue ammonia annually.

However, the plans remain dependent on securing a long-term offtake agreement.

If an agreement is signed this year or next, the project will proceed, he stated.

In March, the Ministry of Energy allocated feedstock for the sixth plant in Jubail Industrial City.

The value of the two projects has not been announced.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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