NEOM Launches TOPIAN to Create Sustainable Food Systems

Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
TT

NEOM Launches TOPIAN to Create Sustainable Food Systems

Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)
Topian aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed. (SPA)

NEOM on Sunday announced the launch of Topian, the NEOM Food Company, which aims to create sustainable food systems and redefine the ways food is produced, distributed and consumed.
In a statement, NEOM said that Topian will seek to redefine food production, distribution, and consumption through the creation of sustainable and innovative food solutions across five vertical pillars: climate-proof agriculture, regenerative aquaculture, novel foods, personalized nutrition, sustainable food supply and environmental, social and institutional governance.

Nadhmi Al-Nasr, CEO of NEOM, said: “NEOM is an accelerator of human progress and Topian reflects our dedication to creating a positive, long-lasting transformation to lives in Saudi Arabia and the rest of the world.”
He continued: “Topian’s innovative approach will be a key driver in shaping the future landscape of a sustainable and secure food industry. 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.”
For his part, Dr. Juan Carlos Motamayor, Chief Executive Officer of Topian, said: “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.”
He added: “Topian is leading the food-security conversation to create a resilient food supply in line with the Saudi Green Initiative and the United Nations 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.”
Topian has signed many local and international strategic partnership agreements with organizations and companies that share its commitment and dedication to reshaping the future of food.
These agreements include King Abdullah University of Science and Technology (KAUST), Tabuk University, as well as Tabuk Fish Company, BlueNalu, Van der Hoeven Horticultural Projects, and Cargill.

 

 

 

 



Saudi Transport, Logistics Sector Set for 10% Growth in Q2

An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
TT

Saudi Transport, Logistics Sector Set for 10% Growth in Q2

An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)

As Saudi companies start reporting their Q2 financial results, experts are optimistic about the transport and logistics sector. They expect a 10% annual growth, with total net profits reaching around SAR 900 million ($240 million), driven by tourism and an economic corridor project.

In Q1, the seven listed transport and logistics companies in Saudi Arabia showed positive results, with combined profits increasing by 5.8% to SAR 818.7 million ($218 million) compared to the previous year.

Four companies reported profit growth, while three saw declines, including two with losses, according to Arbah Capital.

Al Rajhi Capital projects significant gains for Q2 compared to last year: Lumi Rental’s profits are expected to rise by 31% to SAR 65 million, SAL’s by 76% to SAR 192 million, and Theeb’s by 23% to SAR 37 million.

On the other hand, Aljazira Capital predicts a 13% decrease in Lumi Rental’s net profit to SAR 43 million, despite a 44% rise in revenue. This is due to higher operational costs post-IPO.

SAL’s annual profit is expected to grow by 76% to SAR 191.6 million, driven by a 29% increase in revenue and higher profit margins.

Aljazira Capital also expects a 2.8% drop in the sector’s net profit from Q1 due to lower profits for SAL and Seera, caused by reduced revenue and profit margins.

Mohammad Al Farraj, Head of Asset Management at Arbah Capital, told Asharq Al-Awsat that the sector’s continued profit growth is supported by seasonal factors like summer travel and higher demand for transport services.

He predicts Q2 profits will reach around SAR 900 million ($240 million), up 10% from Q1.

Al Farraj highlighted that the India-Middle East-Europe Economic Corridor (IMEC), linking India with the GCC and Europe, is expected to boost sector growth by improving trade and transport connections.

However, he warned that companies may still face challenges, including rising costs and workforce shortages.