Riyadh – Mubasher: The Saudi energy ministry will provide support to NEOM, a $500 billion high-tech megacity that features tourism and sport facilities on the Red Sea, enabling the flagship development to be completed on schedule, Al Arabiya reported on Sunday.
“We have to persevere and make all our capacities available to realise this project,” said the kingdom’s Energy Minister, Prince Abdulaziz bin Salman, during the signing ceremony of a cooperation agreement with NEOM.
The 26,500 square kilometre development, first announced in 2017 with scheduled completion in 2025, will feature high-tech projects powered by wind and solar energy.
The cross-border city is situated in the northwestern Tabuk Province, near the Red Sea and the borders that Saudi Arabia shares with Egypt and Jordan. It is slated to incorporate smart city technologies and also serve as a top tourist destination in the Middle East region.
It is also part of Saudi Crown Prince Mohammed bin Salman’s Vision 2030 plan that aims to transform the kingdom for a post-hydrocarbon age.
