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KAUST Invests in Smart Indoor Farming

King Abdullah University of Science and Technology (KAUST) logo
King Abdullah University of Science and Technology (KAUST) logo
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KAUST Invests in Smart Indoor Farming

King Abdullah University of Science and Technology (KAUST) logo
King Abdullah University of Science and Technology (KAUST) logo

Saudi King Abdullah University of Science and Technology (KAUST) - west of the Kingdom - is investing in a company specialized in developing smart indoor farming, valued at $3.5 million.

The initiative aims to provide indoor farming technology for crops and leafy vegetables in the Kingdom, thus providing fresh products locally throughout the year and reducing waste in the food supply chain.

KAUST Vice President of Innovation and Economic Development Kevin Cullen affirmed that one of the university’s main priorities is supporting emerging companies and talented entrepreneurship.

Cullen indicated that the department also wants to enhance the ecosystem for growing innovation in the Kingdom, which will consolidate the university’s national role as a research institution.

He pointed out that the company received an amount of $2 million from the KAUST Innovation Fund.

The company is growing in the United States and Europe; however, it chose to move to the Research and Technology Park in KAUST, which will enrich its research, development, and innovation capabilities.

In addition, this will create new job opportunities supported by the university while highlighting the Kingdom as an ideal business option in the Middle East.

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World Bank to Finance Syria with $146 Million to Restore Electricity

Syrians walk in a dark street in Douma. Reuters file photo
Syrians walk in a dark street in Douma. Reuters file photo
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World Bank to Finance Syria with $146 Million to Restore Electricity

Syrians walk in a dark street in Douma. Reuters file photo
Syrians walk in a dark street in Douma. Reuters file photo

The World Bank approved a $146 million grant to help Syria restore reliable, affordable electricity and support the country's economic recovery, it said in a statement on Wednesday.

“The Syria Electricity Emergency Project (SEEP) will rehabilitate damaged transmission lines and transformer substations and provide technical assistance to support the development of the electricity sector and build the capacity of its institutions,” it said.

After 14 years of war, Syria's electricity sector has been suffering from severe damage to its grid and power stations, aging infrastructure, and persistent fuel shortages.

"Among Syria’s urgent reconstruction needs, rehabilitating the electricity sector has emerged as a critical, no-regret investment that can improve the living conditions of the Syrian people, support the return of refugees and the internally displaced, enable resumption of other services such as water services and healthcare for the population and help kickstart economic recovery," said World Bank Middle East Division Director Jean-Christophe Carret.

"This project represents the first step in a planned increase in World Bank support to Syria on its path to recovery and development,” he added.

According to the World Bank statement, the SEEP will finance the rehabilitation of high voltage transmission lines, including two critical 400 kV high-voltage interconnector transmission lines damaged during the conflict, restoring Syria’s regional connectivity to Jordan and Türkiye.

The project will also repair damaged high-voltage transformer substations near demand centers in the most impacted areas that host the highest number of returnee refugees and internally displaced people and provide necessary spare parts and maintenance equipment.

In addition, the SEEP will provide technical assistance to inform the country’s key electricity sector strategies, policy and regulatory reforms, and investment plans for medium to long term sustainability. It will also provide capacity building support to the electricity sector institutions to implement these strategies and reforms.