Neom uses one fifth of the world’s steel production

Neom is a flagship project within the country’s broader economic development plans Image Credit: Neom Dubai: Neom in Saudi Arabia is currently consuming one-fifth of the world’s steel production, according to an official statement made on Monday, as reported by London headquartered news agency Arabian Gulf Business Insight. Manar Al Moneef, Neom’s chief investment officer

Neom is a flagship project within the country’s broader economic development plans
Image Credit: Neom

Dubai: Neom in Saudi Arabia is currently consuming one-fifth of the world’s steel production, according to an official statement made on Monday, as reported by London headquartered news agency Arabian Gulf Business Insight.

Manar Al Moneef, Neom’s chief investment officer, highlighted at the Global Logistics Forum in Riyadh’s King Abdullah Financial District that this futuristic city is set to become the largest consumer of construction materials globally for several decades.

Situated in the far northwest of Saudi Arabia, Neom is a flagship project within the country’s broader economic development plans, which are valued at over $1.25 trillion (Dh4.5 trillion).

However, progress on some initiatives has been hindered as the Saudi Public Investment Fund (PIF) faces funding challenges due to declining oil prices and the need to allocate resources to projects in Riyadh ahead of the World Expo 2030 and the 2034 World Cup, both of which will be hosted in Riyadh.

Neom’s developments include a linear city known as The Line, projected to stretch 170 kilometres by its completion in 2045, with a 5-kilometre segment targeted for 2030. Additional components of Neom feature the Trojena winter resort, twelve luxury resorts named Magna, the Sindalah island resort, and an industrial city called Oxagon.

主题测试文章,只做测试使用。发布者:duren0459@gmail.com,转转请注明出处:https://exploremenas.com/neom-uses-one-fifth-of-the-worlds-steel-production/

Like (0)
duren0459@gmail.com's avatarduren0459@gmail.com
Previous October 16, 2024 11:47 pm
Next October 16, 2024 11:47 pm

相关推荐

Leave a Reply

Your email address will not be published. Required fields are marked *

联系我们

400-800-8888

在线咨询: QQ交谈

邮件:admin@example.com

工作时间:周一至周五,9:30-18:30,节假日休息

关注微信
自6.2开始主题新增页头通知功能,购买用户可免费升级到最新版体验