Please cut off the Saudi government's sci-fi movie supply.WORLD MOST DEVELOPED ADVANCED AND HYPER TECHNOLOGY BASED NEOM CITY COUNSTRATION GOING TO START IN Q1 OF 2021
Oil-free future: What is Saudi Arabia's Neom project
The eco-city with zero cars, roads or carbon emissions is called 'The Line' and is part of the kingdom's $500 billion
The construction project is aimed at diversifying Saudi's economy. It is also Crown Prince Mohammed's latest vision for Saudi Arabia's future beyond oil.
Saudi Crown Prince unveils 'The Line' hyper-connected project at NEOM
Construction of THE LINE will commence in Q1 of 2021. The 170km belt is touted to be one of the most complex infra projects in the world
Here's all you need to know about the mega project:
Neom is the crown jewel of Saudi Crown Prince Mohammed bin Salaman's plan to diversify the economy of the country.
The project will be built from scratch along the kingdom's picturesque Red Sea coast. It is built as a development evocative of a sci-fi blockbuster.
The Neom development project was announced in 2017 by Prince Mohammed as a pillar of his Vision 2030 plan to rid Saudi Arabia of its reliance on crude oil revenues. It spans more than 10,000 square miles in a remote area of the country's northwest.
The project is slated to create 380,000 jobs and contribute 180 billion riyals ($48 billion) to the kingdom's gross domestic product (GDP) by 2030.
The 170 km eco-city, dubbed as 'The Line' will be able to accommodate 1 million residents in "carbon-positive urban developments" by 2030.
The project is the conclusion of three years of preparation and infrastructure of the city would cost $100 billion to $200 billion.
The pedestrian city will have services such as schools, health centres and green spaces, as well as high-speed public transportation, with no journey expected to take more than 20 minutes.
It will be powered by 100 per cent clean energy, providing pollution-free, healthier and more sustainable environments for residents.
The city would be built around ultra-high speed transit and autonomous mobility solutions. Artificial intelligence will play a key role in the city.
The backbone of investment in 'The Line' will come from the $500 billion support to Neom by the Saudi government, PIF and local and global investors over 10 years.
Construction is expected to start in the first quarter of 2021 and will be able to house a million residents by 2030.
Saudi's sovereign wealth fund, the Public Investment Fund (PIF), is the cornerstone investor in Neom