Samsung wins USD 3.46 billion project: Saudi Arabian Fertilizer stock is 27.87 percent below high

Published on 10/13/2026 at 09:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SABIC approved a project with 54.00 percent more urea capacity. Saudi Arabian Fertilizer stock was SAR 114.90 on October 13, 2026, versus its SAR 159.30 high.

Samsung E&A won a USD 3.46 billion project linked to Saudi Arabian Fertilizer's urea expansion.
Urea capacity is planned to rise 54.00 percent from 4.8 million to 7.4 million metric tons annually.
The stock was at SAR 114.90 on October 13, 2026, 27.87 percent below its SAR 159.30 52-week high.
First-half net profit fell 21.00 percent to USD 428.00 million, while Q3 forecasts point to SAR 734.00 million.

Saudi Arabian Fertilizer, SA0007879139, Illustration mit AI erstellt.

Saudi Arabian Fertilizer (ISIN SA0007879139) was at SAR 114.90 on October 13, 2026, or 27.87 percent below its SAR 159.30 52-week high. Indian Chemical News reported on October 11, 2026, that Samsung E&A had received a USD 3.46 billion engineering, procurement and construction contract tied to the company's expansion.

Expansion lifts urea capacity

The project includes a 1.20 million metric ton ammonia plant, two urea plants with combined capacity of 2.60 million metric tons per year and a carbon capture unit. Once operational, annual urea capacity is planned to increase from 4.80 million to 7.40 million metric tons, a 54.00 percent increase.

Gulf Construction said the project forms part of Saudi Arabian Fertilizer's 2040 strategy and follows a final investment decision approved by the board in September 2026. Commissioning is expected in the third quarter of 2030, with commercial production planned for the fourth quarter of 2030.

What does the project mean for earnings?

The investment is a long-term capacity move, while near-term profitability remains exposed to logistics and fertilizer prices. AGBI reported that first-half net profit fell 21.00 percent to USD 428.00 million, citing weaker sales volumes and higher transport costs.

For the third quarter of 2026, AlJazira Capital forecast adjusted earnings of SAR 734.00 million, up 93.70 percent from the second quarter of 2026 but down 43.10 percent year over year. The same forecast assigns revenue of SAR 2.77 billion and earnings per share of SAR 1.54 for the quarter.

Three dated milestones

On September 9, 2026, the company approved the expansion project tied to the USD 3.46 billion contract. On September 16, 2026, BofA cut its price objective from SAR 170.00 to SAR 158.00, according to Finimize. On October 11, 2026, the expansion report put the planned urea increase at 54.00 percent.

Upcoming dates for the stock

The next quarterly results are scheduled for October 22, 2026, according to TickerLandia. Commercial production from the expansion is planned for the fourth quarter of 2030.

Stock remains below its yearly high

The SAR 114.90 Tadawul price on October 13, 2026, leaves the stock 27.87 percent below its SAR 159.30 52-week high and 6.09 percent above its SAR 108.30 52-week low. The gap reflects a market weighing long-term capacity growth against lower first-half profit and the capital required before the 2030 production start.

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