TADCO approves 2024-2030 strategic plan

Logo of Tabuk Agricultural Development Co. (TADCO)

Tabuk Agricultural Development Co.’s (TADCO) board of directors approved on Jan. 20 the company’s strategic plan for the period from 2024 to 2030.

TADCO explained in a statement to Tadawul that its strategy includes alignment with the Kingdom's Vision 2030 objectives to achieve the company's pioneering and sustainability in food and agribusiness investments by leveraging its geographical location and resources. The company also seeks to diversify revenues that contribute to maximizing the use of the company's available assets and shareholder' equity. 

Moreover, the strategy aims to establish qualitative strategic partnerships that contribute to achieving sustainable development by adding new activities and focusing on products with a competitive advantage, the company added. 

TADCO’s strategy is based on some objectives, the most important of which are increasing and improving agricultural production as well as developing and sustaining products in a way that contributes to enhancing food security in the Kingdom. 

The objectives also include increasing and enhancing investment in the food trade and expanding the food processing industry, in addition to the optimal management of costs, as well as revenue increase and diversification. 

Furthermore, the company seeks to strengthen the brand and distribution channels, promote relationships with customers and stakeholders. It also aims to establish strategic and logistical partnerships, as well as utilize modern agricultural technologies and digital transformation to achieve operational excellence and added value for customers. 

This is in addition to achieving institutional excellence in administrative and operational processes to enhance innovation, sustainability, and optimal utilization of the company’s assets, as well as leading financing requirements and solutions to achieve the strategy, TADCO added.