Agreement Reached to Develop Sustainable Food Supply Using Sunlight in W. Saudi Arabia

The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)
The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)
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Agreement Reached to Develop Sustainable Food Supply Using Sunlight in W. Saudi Arabia

The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)
The Red Sea Development Company partners with Red Sea Farms to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater. (Asharq Al-Awsat)

The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, has partnered with Red Sea Farms, a Saudi Arabian AgTech business, to develop a sustainable food supply for The Red Sea’s flagship destination using sunlight and saltwater.

Red Sea Farms will build and operate the indoor farm, growing crops to sustainably feed guests and residents at The Red Sea Project. It will become the main supplier to the luxury destination’s resorts and restaurants.

CEO of TRSDC John Pagano said: “At TRSDC we believe in embracing innovations to solve the challenges we face as we attempt to improve our relationship with the environment. Red Sea Farms’ technology is novel, exciting and has the possibility of helping to tackle food scarcity globally.”

“This partnership means we’re meeting our own sustainable and regenerative ambitions,” he added.

The innovative technology uses sunlight and saltwater to cool greenhouses and grow crops, instead of relying on rainfall, fresh groundwater, or desalinated water.

This saves up to 300 liters of freshwater per kilogram of produce – a 95 percent saving compared with other AgTech systems.

The technology has been designed and developed in Saudi Arabia for use in often challenging environmental conditions.

This means a reduced impact on the environment and a significant cost saving for growers. It also results in more nutritious crops, while also providing a richer taste, flavor, and texture.

By 2023, The Red Sea Project will welcome 300,000 guests annually and upwards of 14,000 employees, and once fully operational in 2030, up to one million guests per year and home to around 35,000 employees.

Feeding this many people in a remote, largely desert environment presents huge logistical challenges.

TRSDC has set aside a 50 square hectare food development area and is inviting leading companies from around the world to set up production facilities, as well as pilots of cutting-edge food technologies that can someday be used on a commercial scale.

The Red Sea Farms indoor farm will produce a diverse range of fresh leafy greens, herbs, vine crops, fruit including berries, and vegetables. Following the pilot, Red Sea Farms will have the option of expanding the farm to up to 100 hectares in the future, which would make it the largest sustainable farm of its kind in the world.

TRSDC also partnered with Blue Planet Ecosystems in a regional first to deliver sustainably produced seafood.

The first phase of the project will be implemented as a 3,500m2 pilot, to assess whether conditions at The Red Sea Project are suitable for the solution to work effectively and efficiently.

This will be the first Land-based Automated Recirculating Aquaculture (LARA) system pilot in the Middle East to undergo a commercial trial.



Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
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Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.

European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources, Reuters reported.

TPAO and Shell will jointly explore the Khan Tervel block, located near Türkiye's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.

Shell will continue as operator of the block, while TPAO will take a 33% interest in the licence, a Shell spokesperson said.

Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.

In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.


Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
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Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.


Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
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Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.