We like to keep up with news and events in NEOM, Saudi Arabia and the surrounding area. Here are some of the news sites we read regularly.
Crown Prince Mohammed bin Salman said on Monday his $500 billion flagship project NEOM, a huge economic zone eventually meant to house nine million people, will be partly financed through a flotation expected in 2024. The city's first phase is set to cost 1.2 trillion riyals ($319 billion), half of which will come from the kingdom's sovereign wealth fund, the Public Investment Fund, he said.
Saudi Arabia's flagship business zone NEOM participated in Series B fund funding round of ZeroAvia, a US-UK start-up developing hydrogen-electric, zero-emission aviation technologies.
NEOM joined Barclays Sustainable Impact Capital, AENU, and International Airlines Group (IAG) to invest $30 million in ZeroAvia to bring its Series B fund raising round to $68 million, the company said in a press statement.
A construction boom in the Middle East is coming as oil-producing countries aim to build facilities and plants that help them go carbon neutral and Korean companies are leading the charge.
HanmiGlobal, a construction project management company, won a 2.6 billion won ($1.98 million) deal to manage a part of the NEOM City construction. The company will manage overall construction of THE LINE area of the city, a residential area. More contracts are up for grabs, and Hyundai Motor and its subsidiaries is another a big contender.
Saudi Arabia is planning to build two parallel, mirrored buildings that are nearly 500 metres tall and 120km long as part of its NEOM desert megacity, according to a report published on Saturday.
NEOM, the sustainable regional development in northwest Saudi Arabia, has launched its very own regreening initiative in collaboration with the National Center for Vegetation Cover and Combating Desertification. As part of its program to rehabilitate at least 1.5 million hectares of land, NEOM’s initiative will see the return of 100 million native trees, shrubs and grasses by 2030 to aid the restoration of degraded land and repair of wildlife habitats.
The solar and wind power projects aimed at supplying electricity to the $6.5 billion planned green hydrogen-based ammonia plant in Saudi Arabia’s NEOM, are expected to be situated in northwest Saudi Arabia close to the border with Jordan, reported Meed, citing an industry source.
NEOM is looking for project managers to build its hotels in the Gulf of Aqaba, MEED has reported.
International off-road racing initiative Extreme E announced a multi-year relationship with ENOWA, the energy, water and hydrogen subsidiary of Saudi Arabia’s NEOM to implement innovative green hydrogen-based technologies for Extreme E’s global sustainable racing series, while also showcasing the possibilities of green hydrogen.
ENOWA will play an active part on the scientific advisory board of Extreme E, while the partners will develop educational programmes intended to excite young people about climate positive solutions.
The city of NEOM will be ready by 2024 to receive tourists and investors, the CEO of the project has announced.
A new cryptocurrency, NEOM Coin, has started trading on one of the world’s largest trading platforms for digital coins BitMart — but it’s not connected to Saudi Arabia’s NEOM.
Its maker, India-based NEOM Blockchain Technologies, said the city of NEOM has “no responsibility for the price movements of the cryptocurrency called NEOM,” which is an abbreviation for New Earth Order Money.
What has been discovered less than 500km from NEOM is spread over a vast, remote landscape are millennia-old archaeological remains that could change our understanding of prehistory. Work by Jane McMahon and her colleagues from the University of Western Australia is shedding light on some of the earliest stone monuments in world history – predating Stonehenge and the earliest pyramid in Giza. That place is known as AlUla.
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