Saudi ministry, KAUST sign strategic partnership to accelerate environmental sustainability

1 / 4
Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadli visits KAUST to enhance environmental and agricultural sustainability. (SPA)
2 / 4
Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadli visits KAUST to enhance environmental and agricultural sustainability. (SPA)
3 / 4
Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadli visits KAUST to enhance environmental and agricultural sustainability. (SPA)
4 / 4
Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadli visits KAUST to enhance environmental and agricultural sustainability. (SPA)
Short Url
Updated 20 January 2024
Follow

Saudi ministry, KAUST sign strategic partnership to accelerate environmental sustainability

RIYADH: The Saudi Ministry of Environment, Water and Agriculture and the King Abdullah University of Science and Technology on Saturday signed a strategic partnership agreement to accelerate innovation and sustainability in environmental and agricultural science in the Kingdom.

The deal seeks to strengthen the integration between the two entities, aligning KAUST’s research efforts with the ministry’s strategic plan.

It also aims to advance environmental protection efforts and leverage expertise, as well as contribute to sustainable food and agriculture security in Saudi Arabia.

The agreement was signed during a visit to KAUST by Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadli.

Al-Fadli toured the second phase of the KAUST-MEWA Algal Biotechnology Development and Aquaculture Facility in the university’s Research and Technology Park.

The facility is set to transform food production to meet the Kingdom’s animal-feed demand and create thousands of local job opportunities.

Al-Fadli said his ministry’s research and innovation executive plan focuses on embracing technology and innovation to address challenges in the sector.

He highlighted the project’s goal of establishing the algae industry and related technologies within the Kingdom, creating employment prospects and mitigating the impact of carbon emissions.

KAUST President Dr. Tony Chan said: “Not only are we introducing cutting-edge technology, but we are also nurturing the next generation of Saudi algae farmers.”

He added: “Through training programs, we equip them with the knowledge and skills to cultivate, produce, harvest and process algae — fostering a homegrown aquaculture industry marked by expertise and innovation.”

KAUST also signed a range of agreements with other parties during the visit.


Closing Bell: Saudi main index closes in red at 10,947 

Updated 19 February 2026
Follow

Closing Bell: Saudi main index closes in red at 10,947 

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25. 

The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated. 

The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71. 

The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated. 

The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34. 

Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51. 

On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39. 

National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50. 

On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co. 

In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.  

Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.  

Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.  

The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said. 

The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.