Agtech companies, Mowreq, and YesHealth Group, have initiated a joint venture to develop a network of indoor vertical farms throughout the Kingdom of Saudi Arabia. The JV, Vertical Farms Company, will begin by building the Kingdom’s largest indoor vertical farm in Riyadh. This first farm will be fully operational by Q4 2023, providing jobs and healthy, sustainable produce to the local community.
Total investment in the Mowreq and YesHealth Group JV, Vertical Farms Company, is valued at more than 100 million Saudi Arabian Riyals, or approximately 28 million US dollars at the current exchange rate. The project is backed by Saudi venture capital and funds.
Here are some facts about the new farm:
- Location: Riyadh Industrial Area (2)
- Construction Timeline:Q1 2023 - Q4 2023
- Built Area: 4,500 sq. meters
- Height of Vertical Farm: 16 meters
- Total Cultivation Area: 20,000 sq. meters
- Max. Yield: 2,500 kg per day (based on lettuce) >900 tons annually
- Expected Daily Yield: 2,000 kg per day, including a variety of lettuces, ruciferous vegetables, herbs, and edible flowers.
- Automation: Full process automation from seeding to harvesting.
- Number of Employees: 50 full-time employees
- Exhibition Area: Can accommodate >100 visitors daily to learn about indoor vertical farming and sustainable agriculture.
In order to deliver on this next step in Saudi's agricultural development, Mowreq aims to leverage its experience and know-how in the Saudi Market, combined with the technology and know-how of YesHealth Group. The Riyadh farm will be operated jointly by Mowreq and YesHealth Group during a 3-year technology transfer phase, training local talent to take over the long-term operations.
In line with the Saudi 2030 Vision, the partners will create 50 full-time jobs at the Riyadh farm, and they aim to create more jobs over the next five to ten years, leading the development of the controlled environment agriculture industry. Education will be provided to advance talent, giving the youth the skills they need for jobs of the future. Continued development of the industry’s infrastructure will further diversify the economy, helping to ensure food security and promote healthy lifestyles.
“We built the Kingdom of Saudi Arabia’s first indoor vertical farm, and now we’re building the Kingdom’s largest indoor vertical farm,” says Modar Hisham Nazer, Co-Founder of Mowreq and Chairman of Vertical Farms Company. “This massive, new farm that we’re building in Riyadh will enable more of our compatriots to benefit from locally-produced Janafarm products, which are always clean, fresh, and free of pesticides.”
“YesHealth Group has overcome the operational challenges of indoor vertical farming in Subtropical Asia,” says Jesper Hansen, CCO of YesHealth Group. “The Middle East is our next challenge. We will guide the Riyadh farm through its initial phase of operation, with the aim of maximizing output and efficiency at the high level we achieve in our Taiwan farm.”
For more information:
Mowreq
www.mowreq.com
YesHealth Group
www.yeshealthgroup.com