Saudi Arabia’s Minister of Environment, Water and Agriculture, Eng. Abdulrahman Bin Abdul Mohsen Al-Fadhli, who is also the chairman of the Board of Directors of the Agricultural Development Fund, has approved the expansion plan in the plant resources sector and greenhouses with a new investment worth $1 billion (SR4 billion) until 2025.
This has been made in cooperation with the relevant authorities and private sector companies, and it intends to increase the production capacity by promoting the usage of the latest technologies in the agriculture industry.
According to Eng. Al-Fadhli, the approved plan will increase productivity by an estimated 430,000 tons between 2023 and 2025, boosting the greenhouses’ total output capacity to more than 1 million tons yearly.
About 613.590 thousand tons is the total current production capacity, and it is expected that the rate of increase will be about 70 percent.
This aims to achieve national food security and increase the contribution in the local content and to offer job opportunities in accordance with the goals of Saudi Arabia’s Vision 2030. The expansion plan comes as an extension of the unlimited support that the agriculture sector enjoys in the Kingdom from the wise leadership, the Saudi minister said.
Eng. Al-Fadhli further added that “the loans’ value provided by the Agricultural Development Fund (ADF) to the productive sectors during 2022 have exceeded about $1.3 billion (SR5 billion). The greenhouses project is considered as one of the main sectors that is financed by ADF.”
“The plan comes out of the ministry’s keenness in raising the efficiency of this vital sector, and to work towards its development, and sustainability, as it is an important pillar of food security in Saudi Arabia,” as per the statement.
