NEOM subsidiary Topian boosts Saudi food security drive with new Tadco partnership 

Tadco is located in Tabuk, northwestern Saudi Arabia. Facebook/Tadco
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Updated 18 April 2024
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NEOM subsidiary Topian boosts Saudi food security drive with new Tadco partnership 

RIYADH: Saudi Arabia’s food security drive is set to receive a boost as NEOM subsidiary Topian has partnered with Tabuk Agricultural Development Co., also known as Tadco, to innovate fruit and vegetable production.  

A memorandum of understanding aimed at leveraging advanced agricultural technologies and practices to enhance domestic food production was signed. It includes setting up a hydroponic greenhouse facility at the company’s site in Tabuk, located in northwestern Saudi Arabia.  

Hydroponics is the method of cultivating plants without soil and utilizing minimal water resources.  

Hydroponic gardens, designed for space efficiency, can grow fruits, vegetables, and flowers in half the time of traditional agriculture, while using 90 percent less water. This will support the Kingdom’s efforts toward sustainable food production practices.  

Under the terms of the MoU, Topian will bring its expertise to the table, handling key responsibilities including the design, installation, and operation of the hydroponic greenhouse facility.   

Additionally, the NEOM subsidiary will oversee all aspects of greenhouse management, from production planning to workforce training and customer relations, as stated in a release on the Saudi Stock Exchange.  

The deal will see Tadco taking on a pivotal role in facilitating the project’s success by providing essential support and resources. 

This includes identifying and allocating suitable agricultural land for the greenhouse, establishing distribution channels for product off-take, and providing infrastructure and labor assistance to ensure seamless project execution. 

The partnership underscores Saudi Vision 2030’s aim to enhance food security through increased domestic production and sustainable agricultural practices.  

It shows the country’s commitment to greenhouse projects. In January 2021, for instance, Al-Jouf Agricultural Development Co. inaugurated the Kingdom’s largest greenhouse complex, spanning 12 hectares and employing advanced hydroponic technology. 

The Kingdom has also been promoting the adoption of water-efficient irrigation technologies to optimize water use in agriculture.  

In 2019, the Saudi Ministry of Environment, Water, and Agriculture announced plans to convert 1.2 million hectares of traditional flood irrigation to more efficient methods by 2030. 

Similarly, the National Water Strategy of Saudi Arabia focuses on improving water management practices for sustainable agricultural development. It emphasizes water conservation, recycling, and efficiency measures to address the Kingdom’s water scarcity challenges. 

Through initiatives like the hydroponic greenhouse facility outlined in the MoU, the nation is setting the pace for implementing water-efficient irrigation technologies and reducing agricultural water usage, thereby supporting the goals of the National Water Strategy. 


Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

Updated 22 February 2026
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Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn

RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.

On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.

The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.

According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.

The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.

The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.

The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.

Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.

The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.

Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.

Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.

The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.

Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.