Tabuk Agricultural Development Co. (TADCO) has signed a non-binding memorandum of understanding (MoU) with NEOM Food Company (Topian) to develop, construct and operate a hydroponic greenhouse for the production of fruits and vegetables in Tabuk.

Under the agreement, TADCO will source 100 hectares of agricultural land to construct a mid-tech hydroponic vegetable facility with sufficient water and electricity in a suitable location in Tabuk, the company said in a statement to the Saudi stock exchange.

The company will also assist in arranging the offtake to Topian for supermarket, retail and wholesale buyers in Saudi Arabia.

In addition, it will provide warehousing, cold storage, labour and other appropriate equipment for the project.

Moreover, TADCO will provide support for the supervision of the facility’s construction.

Meanwhile, Topian will design and install the greenhouse and provide technical expertise for its establishment, operation and maintenance.

The cost of the project was not discussed.

(Writing by D Madhura; Editing by Anoop Menon)


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