Saudi NDMC secures $11bn syndicated loan to drive economic growth

Saudi NDMC secures $11bn syndicated loan to drive economic growth
Saudi NDMC secures $11bn syndicated loan to drive economic growth

Thank you for reading the news about Saudi NDMC secures $11bn syndicated loan to drive economic growth and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Food production systems in Saudi Arabia are set to see a sustainability push as NEOM announced the launch of its company Topian. 

According to a release by the giga-project, NEOM’s newest subsidiary aims to redefine the methods of food production, distribution and consumption within the Kingdom by developing sustainable and innovative solutions.

These solutions will hinge on five pillars focusing on climate-resistant agriculture, regenerative aquaculture, novel foods, personalized nutrition, sustainable food supply, and environmental, social, and institutional governance.

Topian was launched with the support of the Ministry of Environment, Water and Agriculture, in line with the Kingdom’s Vision 2030 goals of ensuring food security, reducing the effects of climate change, and achieving climate neutrality by 2060.

The initiative seeks to foster a community of scientists, industry experts, and innovators, representing a unique, innovative standard in sustainable food production. 

The release further noted that the company aims to operate under the framework of “More with Less,” embracing a “new era of food” to achieve food security. 

Its launch concept, “Future to Table,” will introduce and apply solutions and initiatives that aim to revolutionize the current global food system and tackle issues arising from rapid population growth, changing consumption patterns, climate change, and the depletion of natural resources. 

Nadhmi Al-Nasr, CEO of NEOM, said: “Topian reflects our dedication to creating a positive, long-lasting transformation to lives in Saudi Arabia and the rest of the world. Topian’s innovative approach will be a key driver in shaping the future landscape of a sustainable and secure food industry.”

He added: “We look forward to working closely with investors, partners, and food industry experts in turning ambitious ideas into reality, supporting economic diversification in the Kingdom and aligned with Saudi Vision 2030.”

Topian has signed several local and international strategic partnership agreements with organizations that can aid in reshaping the future of food.

Partners include King Abdullah University of Science and Technology, Tabuk University, as well as Tabuk Fish Co., BlueNalu, Van der Hoeven Horticultural Projects and Cargill.

The alliances were established to collaborate on research and development initiatives and harness expertise of partners to develop innovative and sustainable approaches to food production. 

The company stated that it will be developing educational initiatives to promote local, sustainable gastronomy and nurture Saudi talent through training opportunities and chef camps.

“As a wholly owned subsidiary of NEOM, Topian is fully aligned with NEOM’s commitment to providing high-quality food products to the market and promoting food security and sustainability while contributing to the Kingdom’s self-sufficiency objectives and long-term economic goals,” said Dr. Juan Carlos Motamayor, the CEO of Topian.

He added: “Topian is leading the food-security conversation to create a resilient food supply in line with the Saudi Green Initiative and the UN Sustainability Development Goals. We are not only committing to shaping a transformative global food system but also to setting a global benchmark by pioneering new technologies and innovative solutions to overcome food-related challenges and create a more secure, sustainable, and prosperous future for all.”

These were the details of the news Saudi NDMC secures $11bn syndicated loan to drive economic growth for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT US Fed holds key rate steady for fourth straight meeting

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]