AmplifiedAg
YesHealth Group Saudi Arabia
Corporate Deals EMEA Vertical Farming

YesHealth Group & Mowreq Ink a JV To Build a USD 28M Facility

  • The farm resulting from the JV between Mowreq & YesHealth Group will be the tallest indoor vertical farm in the Middle East and the largest indoor vertical farm in Saudi Arabia
  • Consumers in Riyadh and the surrounding region will receive 2,000 kg of fresh green vegetables every day from the farm.
  • The farm, which is 20 kilometers from the city center of Riyadh, will provide a low-carbon substitute for imported vegetables, cutting down on numerous food miles.
  • The project, worth around USD 28M is backed by Saudi venture.

Mowreq and YesHealth Group recently announced the signing of a joint venture to build the largest indoor vertical farm in the Saudi Arabian Kingdom. The first farm is anticipated to be completely operational by Q4 2023, offering locals jobs and wholesome crops.

Under the trade name Janafarm, Mowreq already provides consumers in Jeddah with fruit that has been vertically farmed. Mowreq and YesHealth Group will jointly run the Riyadh farm during a three-year technology transfer phase, developing local expertise to take over the long-term operations. At the current exchange rate, the total investment in the Mowreq and YesHealth Group JV, Vertical Farms Company, is worth more than 100 million Saudi riyals, or around 28 million US dollars.

The initiative, which will generate 50 full-time employees at the Riyadh farm, is supported by Saudi venture capital and funding.

“The Middle East is our next challenge”, according to YesHealth Group CCO Jesper Hansen. “With the goal of increasing output and efficiency at the high level we reach in our Taiwan farm, we will assist the Riyadh farm through its initial phase of operation.”

The farm, according to the company’s statement, is expected to have a surface of 4,500 sqm and reach 16 meters of height yielding throughout 20,000 sqm of cultivation area around 2,500kg per day of lettuce (Other crops are planned to be grown in the facility).

Currently, YesHealth Group manages a sizable indoor vertical farm in Taiwan and collaborates with other indoor vertical farms in Europe. More than 150 people are employed by its combined businesses, which yearly generate more than 2,500 tons of green vegetables, thus establishing itself as a leading vertical farming business.

Image provided by YesHealth Group

X
%d bloggers like this: