with Tamimi and Mitsui & Co. in Saudi Arabia
the Joint Venture signing ceremony
Tamimi Markets forms a strategic Joint Venture with Mitsui & Co. Ltd. of Japan and ZERO SRL of Italy to develop the next generation of Smart Farms addressing Saudi Arabia’s Food Security and Sustainability needs
Tamimi Markets Company today announced the formation of a new joint venture with Japanese multinational Mitsui & Co. and Italian agricultural technology provider Zero SRL. The three JV partners will develop the next generation of vertical smart farms in the Al-Kharj area of Saudi Arabia, efficiently bringing fresh produce to market using far less water than traditional farming techniques and in close proximity from farm to shelf, starting with Riyadh.
The partnership is consistent with Tamimi Markets fresh food market leadership and bringing the best innovations from around the world to Saudi Arabia. “With Mitsui’s global expertise and Zero’s technological leap in controlled environment agriculture – aspiring towards zero waste, zero chemicals and scientifically metered pure water and high energy efficiency, Tamimi Markets will have among the freshest, healthiest, safest fresh foods in the market - sustainably. This is one of our many contributions towards the Kingdom’s goal of food security” said Bobby Rajendran, General Manager of Tamimi Markets.
“Acting responsibly and providing the freshest quality products for our customers at very attractive prices are key priorities at Tamimi Markets. Bringing hyperlocal freshness to our stores saves on logistics, accelerates speed to shelf, reduces carbon footprints and helps to further differentiate us with superior quality products for our customers. Sustainability is good for business and the kingdom, and with Mitsui and Zero SRL, we are taking this to the next level” he added.
Tamimi Markets is part of Tamimi Holding, a family holding company that includes other multinational joint ventures including businesses with General Electric, Halliburton, Firestone, Red Wing, AC Delco and more. “Tamimi Holding has a long and successful history of working with our partners to bring world class solutions to Saudi Arabia. Tamimi Markets new agri-business JV provides vertical integration advantages and supports the Group’s ambitions for fulfilling Saudi Arabia’s Vision 2030 goals” stated Fawaz Al-Tamimi, VP, Tamimi Holding and Tamimi Markets Board member.
Mitsui & Co. is a global giant in trade and consumer goods. Tomoharu Gomi, General Manager Agri-Innovation Dpt. at Mitsui announced “We look forward to working with Tamimi Markets and Zero SRL to develop the next generation of smart vertical farms, a first for Saudi Arabia. We at Mitsui & Co. provide innovative food and agriculture solutions for a healthier global future. Our Nutrition & Agriculture Business Unit manufactures ingredients and raw materials to contribute to a safe, healthy food supply. With world population expected to increase by around one-third to nearly 10 billion by 2050, increasing the productivity of existing farmland is the only viable way to meet that new need. Our work with Tamimi Markets and Zero SRL has global applications.”
Daniele Modesto, CEO of Zero Farms, stated “The strategic partnership agreement we signed today in Saudi Arabia is an important step towards fulfilling our common goal of achieving smart agricultural and environmental solutions that are in line with the Kingdom’s Vision 2030 and the growing needs of the world today.”
Tamimi Markets is a Saudi owned and operated company with 88 supermarkets across the kingdoms of Saudi Arabia and Bahrain. Known for its high-quality fresh foods and wide variety of international and Healthy Living products, Tamimi Markets is an innovator and leader in Saudi Arabia’s modern retail food trade. “Tamimi Markets is a Saudi family proudly serving the families of Saudi Arabia with Fresh, Safe, Healthy foods, with a smile. We are ideally aligned with our joint venture partners, and look forward to bringing innovations developed here in Saudi Arabia to the world” stated Abdul Aziz Al-Tamimi, CEO of Tamimi Markets.