Sahara Intl Petrochemical Co. (2310.SE): Announces feedstock allocation approval to develop a 1.8mtpa methanol plant in Jubail

研报英文原文证据摘录

Sahara Intl Petrochemical Co. (2310.SE): Announces feedstock allocation approval to develop a 1.8mtpa methanol plant in Jubail

Equity Research

24 June 2026 | 6:43PM GST

Sahara Intl Petrochemical Co. (2310.SE): Announces feedstock allocation

approval to develop a 1.8mtpa methanol plant in Jubail

What happened? Faisal AlAzmeh, CFA

+971(4)376-3476 |

Sipchem announced today (June 24th) that it obtained approval from the Ministry of faisal.alazmeh@gs.com

Goldman Sachs International

Energy for feedstock allocation to develop a methanol plant in Jubail Industrial City,

Swarnilee Patra

Saudi Arabia. As per the release, the plant is expected to have annual production +1(332)245-7700 |

capacity of 1.8 million metric tons and, upon completion, to increase the company’s swarnilee.patra@gs.comGoldman Sachs India SPL

overall production capacity by 45%. The project will be wholly owned by Sipchem Roman Reshetnev

and is expected by the company to enhance operational integration, supply chain +971(4)376-3423roman.reshetnev@gs.com|

efficiency, and economic returns, although capex, timeline, funding, and expected Goldman Sachs International

returns are not yet clear as of now.

GS view

We view the announcement as strategically relevant, as feedstock allocation moves

the project further along the development path and adds a material growth leg in a

product where Sipchem already has operating experience. That said, the lack of

disclosure on capex, construction timing, funding, and return metrics limits the

immediate financial read-through. Relative to the earlier Jubail growth path through

the JV with LYB, this project is wholly owned and more concentrated in methanol,

which in our view increases both strategic control and direct execution exposure; we