Saudi Arabia’s ambitious NEOM project is utilizing a remarkable 20% of the world’s steel supply, according to the project’s Chief Investment Officer. Valued at $1.5 trillion, this futuristic megacity, spearheaded by Crown Prince Mohammed bin Salman, aims to redefine urban living through cutting-edge technology and sustainable energy solutions.
NEOM is a key pillar in Saudi Arabia’s Vision 2030 plan to diversify the kingdom's economy beyond oil. The project features groundbreaking components such as The Line, a 170-kilometer linear city designed to be free of cars and emissions, and Oxagon, an octagon-shaped floating industrial complex.
As a visionary smart city, NEOM is expected to set new standards for sustainability and innovation, positioning Saudi Arabia as a global leader in urban development for years to come. Its vast consumption of resources like steel also underscores the project's scale and its anticipated impact on global construction.
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