Agtech companies, Mowreq (Mowreq Specialized Agriculture Co.) and YesHealth Group (YesHealth Agri-Biotechnology Co., Ltd.) 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 is slated to be fully operational by Q4 2023, providing jobs and healthy, sustainable produce to the local community.
Mowreq already supplies vertically farmed produce to consumers in Jeddah, under the brand name Janafarm. It employs 15 people, producing healthy and fresh leafy vegetables around the year. In order to deliver on this next step in the Kingdom'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.
YesHealth Group currently operates a profitable, large-scale indoor vertical farm in Taiwan, and cooperates across several indoor vertical farms in Europe. Its combined operations employ more than 150 people worldwide and produce over 2,500 tons of leafy vegetables, annually. 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.
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