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. 


Closing Bell: Saudi main index closes in green at 10,917 

Updated 19 January 2026
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Closing Bell: Saudi main index closes in green at 10,917 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 4.86 points, or 0.04 percent, to close at 10,917.04. 

The total trading turnover of the benchmark index was SR3.95 billion ($1.05 billion), as 102 of the listed stocks advanced, while 147 retreated. 

The MSCI Tadawul Index increased, up 0.54 points, or 0.04 percent, to close at 1,467.06. 

The Kingdom’s parallel market Nomu lost 85.41 points, or 0.36 percent, to close at 23,357.50. This comes as 19 of the listed stocks advanced, while 46 retreated. 

The best-performing stock was Tourism Enterprise Co., with its share price surging by 10 percent to SR13.53. 

Other top performers included Al Yamamah Steel Industries Co., which saw its share price rise by 8.64 percent to SR39.22, and Anaam International Holding Group, which saw a 4.05 percent increase to SR12.59. 

Alramz Real Estate Co. saw its share price rising by 3.95 percent to close at SR61.85, while Umm Al Qura for Development and Construction Co. closed at SR18.08, marking a 3.67 percent increase in share price. 

On the downside, the worst performer of the day was Saudi Industrial Export Co., whose share price fell by 3.72 percent to SR2.59. 

ACWA Power Co. saw its share price fall 3.54 percent to SR177.20, while Naseej International Trading Co. declined 3.08 percent to SR29.56. 

Moreover, the share price of Rabigh Refining and Petrochemical Co. dropped 2.95 percent to close at SR6.57, while Nice One Beauty Digital Marketing Co. saw its share price dropping 2.65 percent to SR17.97. 

On the announcement front, Alinma Capital has declared a cash dividend distribution totaling SR6.55 million for unitholders of the Alinma Saudi Government Sukuk ETF Fund.  

The dividend, covering the period from July to December, amounts to SR0.162 per unit and represents approximately 1.56 percent of the fund’s net asset value as of Jan. 15.  

Its share price closed at SR10.42 on the main market, marking a 0.1 percent increase. 

Also, Itmam Consultancy Co. has been awarded a significant project by the Digital Government Authority to develop digital investment skills within the public sector.  

The contract, officially granted on Jan. 19, is valued at more than 5 percent of the company’s total 2024 revenue.  

According to a statement, the program aims to equip government employees with the expertise needed to enhance digital government investment efficiency, focusing on software license development aligned with legal and technical standards.  

Its share price remained unchanged on Nomu at SR16.40.