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Neom Project Extends Across Egypt and Jordan

Written By -

Mohammed bin Salman bin Abdulaziz Al Saud the crown prince has declared a new project that is named Neom will extend across the Egyptian and Jordanian borders.

The project area is 26,500 square kilometers and the first phase of the project is due to be completed by 2025.

Also, it has been announced that the kingdom will support such great project with 500 billion dollars. In addition to the support of the Public Investment Fund and a group of local and international investors.

Furthermore, it’s worth mentioning that in order to develop the Saudi kingdom in the following few years to become a leading model in the economy and investment, motivate growth, support manufacturing and local industry globally, the crown prince announced that in Neom project there will be 9 sectors to invest in which are:

  1. Energy and Water,
  2. Mobility,
  3. Biotech,
  4. Food,
  5. Advanced Manufacturing,
  6. Media,
  7. Entertainment,
  8. Technological and Digital Science,
  9. Living as Neom’s Foundation.

Location:

The project is located in the north-west of the Kingdom in an area overlooking the Red Sea and Gulf of Aqaba from the north and west.

It’s a real strategic location as it’s located in a strong convergence point between the three continents – Asia, Europe, and Africa – what enables 70% of the world’s population to reach it within 8 hours. Also, 10% of the world trade traffic passes through the Red Sea.

The Neum project will be supported by the latest technologies to make it one of the world’s best and safest projects.