INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Tamimi Markets of KSA to develop smart farms with foreign firms

The move supports the Kingdom’s efforts to achieve smart agricultural and environmental solutions to the world’s growing needs in line with Saudi Vision 2030.
  • The three partners aim to develop the next generation of vertical smart farms in the Al-Kharj area of Saudi Arabia
  • Starting with Riyadh, the new joint venture will bring fresh produce to the market using far less water than traditional farming techniques

Tamimi Markets, Saudi supermarket chain, has teamed up with Japan’s Mitsui & Co. and Italy’s Zero SRL to develop the kingdom’s first smart farms.

The three partners aim to develop the next generation of vertical smart farms in the Al-Kharj area of Saudi Arabia in a bid to address the Kingdom’s food security and sustainability needs, according to a statement.

Starting with Riyadh, the new joint venture will bring fresh produce to the market using far less water than traditional farming techniques and in close proximity from farm to shelf.

“Bringing hyperlocal freshness to our stores saves on logistics, accelerates speed to shelf, reduces carbon footprints and helps to further differentiate us with superior quality products for our customers,” said Bobby Rajendran, general manager at Tamimi Markets.

“Sustainability is good for business and the Kingdom,” he added.

The move supports the Kingdom’s efforts to achieve smart agricultural and environmental solutions to the world’s growing needs in line with Saudi Vision 2030.

Tomoharu Gomi, general manager Agri-Innovation Dpt. at Mitsui, said: “We look forward to working with Tamimi Markets and Zero SRL to develop the next generation of smart vertical farms, a first for Saudi Arabia.”