Neom, the $500 billion futuristic mega-city being built in Saudi Arabia, has launched a new company with a focus on sustainable food production and distribution as the kingdom aims to achieve its food security goals and 2060 net-zero targets.
The new company Topian, set up with the support of the Ministry of Environment, Water and Agriculture, is in line with the kingdom's Vision 2030, a Neom statement on Sunday read.
"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 Juan Motamayor, chief executive of Topian.
The new company has already signed several strategic partnership agreements with domestic and international organisations to foster innovative and sustainable food production, Neom said.
King Abdullah University of Science and Technology, Tabuk University, as well as Tabuk Fish Company, BlueNalu, Van der Hoeven Horticultural Projects and Cargill, are among the bodies with which it has signed pacts so far.
"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," said Nadhmi Al-Nasr, chief executive of Neom.
Saudi Arabia, the Arab world’s largest economy, aims to diversify its economy away from oil as part of its Vision 2030 initiative.
Neom, comprising a nature reserve, coral reefs and heritage sites on several islands along the Red Sea coast well, as other property and tourism projects across the kingdom, are part of Riyad's overarching Vision 2030 agenda.
It has also set ambitious targets to fight climate change and cut carbon emissions to overhaul its economy and reduce its reliance on oil, including the development of an $8.5 billion green hydrogen project.
