Sahara International Petrochemical Company "Sipchem" Announces Obtaining Feedstock Allocation from the Ministry of Energy for a new Methanol Plant

Element List	Explanation
Announcement Detail	Sahara International Petrochemical Company “Sipchem” is pleased to announce that, on 9/1/1448H corresponding to 24/6/2026, the company obtained the approval of the Ministry of Energy for an allocation of the required feedstock quantities to develop a methanol plant in Jubail Industrial City, Saudi Arabia, with an annual production capacity of 1.8 million metric tons. This wholly owned Sipchem project represents a pivotal strategic step in the company's plans to grow and expand in the petrochemical sector. Upon completion, the project is expected to significantly enhance Sipchem's capabilities and increase the company's overall production capacity by 45%. It will also enhance operational integration with existing assets, help maximize added value, increase supply chain efficiency, improve economic returns, and strengthen the company's resilience and ability to achieve sustainable long-term growth. Sipchem builds on its accumulated experience and outstanding operational track record in the methanol industry, along with a disciplined approach to project development and the adoption of the latest, most energy-efficient technologies, which in turn enhances the project's readiness for implementation according to the highest operational standards and supports its long-term competitiveness, while creating sustainable value and deepen the strategic and investment impact of this new investment. The company extends its sincere thanks and appreciation to the Ministry of Energy for its continued support and valuable efforts, which had a significant positive impact on enabling this project and other national initiatives. The company also highly appreciates the Ministry's continued support to the petrochemical sector, which constitutes a key pillar in supporting expansion plans, enhancing our contribution to the development of national industries, and achieving the goals of the Kingdom's Vision 2030. Any material developments related to the project will be announced in accordance with the applicable regulations and instructions.

Element List

Explanation

Announcement Detail

Sahara International Petrochemical Company “Sipchem” is pleased to announce that, on 9/1/1448H corresponding to 24/6/2026, the company obtained the approval of the Ministry of Energy for an allocation of the required feedstock quantities to develop a methanol plant in Jubail Industrial City, Saudi Arabia, with an annual production capacity of 1.8 million metric tons.

This wholly owned Sipchem project represents a pivotal strategic step in the company's plans to grow and expand in the petrochemical sector. Upon completion, the project is expected to significantly enhance Sipchem's capabilities and increase the company's overall production capacity by 45%. It will also enhance operational integration with existing assets, help maximize added value, increase supply chain efficiency, improve economic returns, and strengthen the company's resilience and ability to achieve sustainable long-term growth.

Sipchem builds on its accumulated experience and outstanding operational track record in the methanol industry, along with a disciplined approach to project development and the adoption of the latest, most energy-efficient technologies, which in turn enhances the project's readiness for implementation according to the highest operational standards and supports its long-term competitiveness, while creating sustainable value and deepen the strategic and investment impact of this new investment.

The company extends its sincere thanks and appreciation to the Ministry of Energy for its continued support and valuable efforts, which had a significant positive impact on enabling this project and other national initiatives. The company also highly appreciates the Ministry's continued support to the petrochemical sector, which constitutes a key pillar in supporting expansion plans, enhancing our contribution to the development of national industries, and achieving the goals of the Kingdom's Vision 2030.

Any material developments related to the project will be announced in accordance with the applicable regulations and instructions.