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SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity
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SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

Saudi Basic Industries Corporation (SABIC) has introduced a series of smart techniques and practices that help farmers enhance efficiency, production and profits.

This presentation was made during the company's participation in the 25th Arab Fertilizer Forum and Exhibition that concluded in Cairo on Thursday.

SABIC showcased the pioneering researches at its subsidy Estidamah Agricultural Research Center in Riyadh, established in 2008. Raddy Alfaridi, Director of Communications, Marketing and Public Affairs at the center, presented a lecture on Estidamah researches regarding the efficiency of water usage in modern agricultural greenhouses.

This falls in line with the center’s efforts in increasing production to promote food security in the Kingdom through its research on conditions most suitable for crops.

The company also shed light on its guiding agricultural convoy in which more than 7,000 farmers from around 120 sites in the MENA region took part last year.

This event was launched end of 2018 in cooperation with the Arab Fertilizer Association, the Saudi Ministry of Environment, Water and Agriculture, and relevant departments to enrich the technical knowledge of farmers.

Engineer Samir Al-Abdrabbuh, Agri-Nutrients Executive Vice President, affirmed that SABIC has been working for the past 25 years with the Arab Fertilizer Association and its farmer members to face modern agricultural challenges and to enhance the food supplies in MENA and the world.

Abdrabbuh noted that the company’s scientists continue to develop innovative solutions to increase crops.

He added that SABIC’s contributions are not restricted to lab experiments but extend to the exchange of expertise.

SABIC dedicates time and efforts for visiting fields, communicating with farmers and helping them acquire the required skills and benefit from the company’s solutions, said Abdrabbuh.

The 25th Arab Fertilizer Forum and Exhibition saw the attendance of more than 500 officials from 130 organizations from 30 states.

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Eurasian Development Bank Reveals Partnerships with the Gulf to Develop Energy Projects

Chairman of the Management Board at the Eurasian Development Bank (EDB) Nikolai Podguzov. Asharq Al-Awsat
Chairman of the Management Board at the Eurasian Development Bank (EDB) Nikolai Podguzov. Asharq Al-Awsat
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Eurasian Development Bank Reveals Partnerships with the Gulf to Develop Energy Projects

Chairman of the Management Board at the Eurasian Development Bank (EDB) Nikolai Podguzov. Asharq Al-Awsat
Chairman of the Management Board at the Eurasian Development Bank (EDB) Nikolai Podguzov. Asharq Al-Awsat

Chairman of the Management Board at the Eurasian Development Bank (EDB) Nikolai Podguzov revealed plans to cooperate with GCC countries, including Saudi Arabia, to develop energy infrastructure.

Podguzov told Asharq Al-Awsat that the bank, which is the international financial organization that operates in Central Asia and in Eurasia, works on implementing a working plan based on three strategies.

“Every year we execute around 30-40 new projects and set up agreements,” he said.

“The investments of the bank are growing at least 20% each year,” Podguzov revealed. “We are quite a fast developing bank. Uzbekistan has just joined the bank this year.”

Regarding the size of loans and investments handled by EDB, Podguzov explained that the bank's average investment ranges between $100 million and $400 million. He added however, that the bank is capable of syndicating larger loans that can reach up to $1 billion or more, while the average annual investment volume is around $2.53 billion.

Regarding the bank's work plans for the coming year, Podguzov explained that the Eurasian Development Bank is simultaneously working to strengthen its relations with the GCC countries and the Islamic Development Bank.

“We improve connectivity, transport infrastructure and logistics. We improve access to water for regions in Central Asia. We develop energy infrastructure in our member states,” he told Asharq Al-Awsat.

“We take care of food safety and food safety infrastructure, which provides access to food and provides food security for our member states. And I think in this field we can set up very good economic ties and cooperation between GCC countries and Central Asia.”

“I know that such countries like Saudi Arabia, Emirates, Oman are quite interested in the topics of our strategy,” he said.

“We mainly do non-sovereign finance ... which is very convenient for our potential partners,” he added.

Podguzov said there is a partnership with Masdar which “is a world leader in bringing renewable energy technologies into the world. They are quite active in Central Asia, in Kazakhstan in particular.”

“That is why, for example, we are very much interested in cooperation with Masdar company. This is one of examples. I think logistics and logistics project also could be of interest for Saudi Arabia. A lot of infrastructure could be developed together with the help of Eurasian Development Bank.”

“I believe that it's also very important to build economic bridge between GCC countries and Central Asia. And I think the bank can do a lot in this field and finally we can bring together economic interests of Central Asian and GCC countries.”