Nassef Sawiris' Oci Targets Ammonia Project Completion Amid 1 Billion Payout

OCI is finalizing its Beaumont New Ammonia plant, a cornerstone of its low-carbon push, set to commission in 2025 amid its broader strategic overhaul.

The company plans a 1 billion capital distribution in May 2025, pushing total shareholder payouts to 6.4 billion in four years under Sawiris' leadership.

Despite volatile markets, OCI posted resilient Q1 2025 performance, with strong Natgasoline utilization and disciplined cost cuts aiding its transformation efforts.

OCI Global, a leading producer and distributor of nitrogen and methanol products helmed by Egyptian billionaire Nassef Sawiris, has announced significant milestones in its ongoing strategic transformation. These include the near completion of its Beaumont New Ammonia plant and a substantial 1 billion capital distribution to shareholders.

Set for commissioning later this year, the Beaumont New Ammonia facility marks a significant step in OCIs push toward low-carbon fertilizer production. The companys planned 1 billion payout in May 2025 will bring total shareholder distributions over the past four years to 6.4 billion, underscoring its commitment to delivering value amid a disciplined transformation strategy.

In the first quarter of 2025 , OCI demonstrated operational resilience across its platform. Its European nitrogen segment remained profitable despite elevated natural gas prices and planned plant maintenance, while the companys cost-reduction efforts remain on track to cut corporate costs below 40 million by year-end. OCI also reported own-produced methanol sales of 233,000 tonnes in Q1 2025a 34 percent decline from Q1 2024 and 7 percent lower than the previous quarter.

The decrease was primarily due to a planned turnaround at OCI Beaumont. However, Natgasoline, a key joint venture asset, ran at a strong 95 percent average utilization rate following its successful restart at the end of 2024. Notably, benchmark US Gulf Coast spot methanol prices averaged 370 per tonne during the quarter, a 17 percent increase from 317 per tonne in Q1 2024, offering partial offset to volume declines.

The planned divestiture of OCI Methanol to Methanex Corporation remains on course for completion in the second quarter of 2025, following favorable regulatory approvals and resolution of joint venture matters. This transaction is central to OCIs strategy to simplify its portfolio and sharpen focus on core growth assets.