The UAE aims to boost the local production of fresh fruits and vegetables and reduce its reliance on imports. Wam
The UAE aims to boost the local production of fresh fruits and vegetables and reduce its reliance on imports. Wam
The UAE aims to boost the local production of fresh fruits and vegetables and reduce its reliance on imports. Wam
The UAE aims to boost the local production of fresh fruits and vegetables and reduce its reliance on imports. Wam

ADQ's AgTech Park begins operations with opening of vertical farm


Deena Kamel
  • English
  • Arabic

Al Ain-based AgTech Park, the agricultural venture of Abu Dhabi holding company ADQ, has started operations with the opening of a multipurpose vertical farm as the UAE seeks to enhance food security by developing local supply chains.

ADQ teamed up with Italy-based tech company Zero on the vertical farm, making it the first of several controlled-environment projects that will be housed in AgTech Park, the Abu Dhabi Media Office said on Wednesday.

The initiatives are intended to boost local indoor farming and "push the boundaries" of desert-climate farming in the UAE.

The inaugural vertical farm is located within the Khalifa Economic Zones Abu Dhabi Group (Kezad), home to a network of food industries across the entire value chain.

Additional sites exploring different technology will be set up in Al Ain Industrial City in the coming year, the media office said.

“We are pleased to host Zero Farms as part of ADQ’s AgTech Park," said Capt Mohamed Al Shamsi, managing director chief executive of the AD Ports Group.

"Kezad has a well-established ecosystem for food industries that spans the entire value chain, with a strong base for growth for both local producers and the food industry as a whole.

"The project will contribute to the National Food Security Programme and help establish Abu Dhabi and the UAE as the regional hub for food.”

Vertical farming has a significantly smaller carbon footprint than traditional agricultural methods.

It grows plants using mineral nutrient solutions in water and without the use of soil.

The plants are grown in a controlled environment — with everything from temperature, humidity, lighting, water and nutrients is tightly monitored to maximise growth and yields.

The new farm is in line with the UAE's agenda for reliable crop production all year round and a stable supply chain not dependent on the weather and free from attacks by pests, the emirate's media office said.

The Zero project is retrofitted in a 1,000 sqm warehouse and will achieve an initial production volume of approximately 10 tonnes per year at the proof-of-concept stage.

This pilot phase is expected to conclude in the summer of 2023, following which a 40,000 sqm commercial phase of the vertical farm is expected to be launched in Al Ain, alongside other projects featuring controlled-environment technologies.

At full scale, the 200-hectare AgTech Park will target production volumes of more than 40 kilo-tonnes of fresh fruits and vegetables annually, which would account for up to 6 per cent of the UAE’s total consumption and 12 per cent of the import of the produce grown within the park, the media office said.

“As our vision of creating a state-of-the-art AgTech Park takes shape with the support of Zero ... we are harnessing technology to create a controlled environment that advances the UAE’s ability to grow fresh, nutritious and tastier foods year-round," said Gil Adotevi, executive director of food and agriculture at ADQ.

"The breakthrough technology utilised in the park for the first time in the UAE explores new solutions to help tackle the challenge of sustainably farming in arid and desert climates, allowing us to contribute to not only shortening but also ‘greening’ the food value chain, which is top of the agenda for policymakers around the world as we progress on our net-zero journey.”

The UAE has been bolstering its support for AgTech companies to reduce its reliance on imports, which are thought to make up about 90 per cent of the food consumed in the country.

Abu Dhabi has launched a number of initiatives, including offering $41 million in grants and incentives worth $545 million to support the expansion of the sector.

UAE residents are already seeing evidence of recent efforts to grow food in the country as locally harvested farm produce is now a common sight at markets or on dining menus.

Much of this has surfaced over the past few years as vertical and hydroponic farming ventures, as well as research and cloud-seeding, bear fruit.

“Vertical farms respond to the urgent need to rethink agriculture, making it more environmentally friendly and sustainable in a world prioritising the responsible use of resources," said Daniele Modesto, chief executive of Zero.

Zero's collaboration with ADQ "allows us to play a role in building one of the most diversified indoor farming facilities in the region that will contribute to realising the nation’s food security strategy", he said.

Last month, US vertical farming company AeroFarms opened its 6,000-square-metre research and development centre in Abu Dhabi, the largest in the world, with the aim of advancing sustainable agriculture in arid climates.

MATCH INFO

Burnley 0

Man City 3

Raheem Sterling 35', 49'

Ferran Torres 65'

 

 

CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
MATCH INFO

Day 2 at the Gabba

Australia 312-1 

Warner 151 not out, Burns 97,  Labuschagne 55 not out

Pakistan 240 

Shafiq 76, Starc 4-52

The biog

Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza

Hobby: Running and watching Welsh rugby

Travel destination: Cyprus in the summer

Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

UAE currency: the story behind the money in your pockets
Traces%20of%20Enayat
%3Cp%3E%3Cstrong%3EAuthor%3A%3C%2Fstrong%3E%20Iman%20Mersal%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20And%20Other%20Stories%3Cbr%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20240%3C%2Fp%3E%0A
What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
'Gehraiyaan'
Director:Shakun Batra

Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa

Rating: 4/5

Vikram%20Vedha
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Gayatri%2C%20Pushkar%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Hrithik%20Roshan%2C%20Saif%20Ali%20Khan%2C%20Radhika%20Apte%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%C2%A0%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
Updated: March 22, 2023, 12:57 PM