King Salman bin Abdul Aziz
King Salman in New Youm
Saudi King Salman bin Abdul Aziz al-Saud arrived in New Youm on Monday, where he will spend some time rest and rest.
The new city, to be built on the Red Sea coast in northwestern Saudi Arabia, will host the Neum project with funding of over half a trillion US dollars.
The project, which was unveiled at the opening of the Future Investment Initiative in Riyadh and announced by the Saudi Crown Prince Prince Mohammed bin Salman, aims to stimulate growth and stimulate the local industry within the vision of the Kingdom by the year 2030.
This is part of a plan by the Kingdom to diversify its sources of income and keep away from oil, as well as diversify renewable energy sources and solar energy. Neum plans to be the largest incubator of solar investments in the world.
The project plans include a bridge crossing the Red Sea linking the new city to Egypt and the rest of the African continent. Some 25,900 square kilometers have been allocated for the development of the area, which will include parts of Jordan and Egypt.
The Saudi Crown Prince previously disclosed that the project is scheduled to open in 2025.
The kingdom received assurances and "very reassuring" commitments from international investment funds, including the Russian fund, to participate in the project of the city of "New", according to Saudi Finance Minister Mohammed Al-Jadaan in an interview with the channel "News" Saudi Arabia in the 28 of October 2017.
Source: Agencies
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