NEW DELHI: Crown Prince Mohammed bin Salman unveiled his latest vision for Saudi Arabia\u2019s future beyond oil: A city with no cars, roads or carbon emissions.
\nThe 170 kilometer-long (106 mile-long) development called \u201cThe Line\u201d will be part of the $500 billion project called \u201cNeom,\u201d the crown prince said in a televised speech on Sunday. Construction is planned to start in the first quarter.
\nA news release described The Line as a walkable \u201cbelt of hyper-connected future communities, without cars and roads and built around nature.\u201d It said the city would have 1 million residents and create 380,000 jobs by 2030. The infrastructure will cost $100 billion to $200 billion, the crown prince said.
\nNeom is the crown jewel of Prince Mohammed\u2019s plan to diversify the economy of the world\u2019s largest crude exporter. Announced in 2017, the project spans more than 10,000 square miles in a remote area of the country\u2019s northwest. It\u2019s described on its website as \u201ca bold and audacious dream\u201d that will become a hub for new technologies and businesses.
\nThe project has been plagued by skepticism and political controversy since its launch. Analysts question if it\u2019s realistic and can attract the investment needed.
\n\u201cThe 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,\u201d the prince told reporters in Al-Ula, referring to Saudi Arabia\u2019s Public Investment Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Crown Prince Mohammed bin Salman unveiled his latest vision for Saudi Arabia\u2019s future beyond oil: A city with no cars, roads or carbon emissions. The 170 kilometer-long (106 mile-long) development called \u201cThe Line\u201d will be part of the $500 billion project called \u201cNeom,\u201d the crown prince said in a televised speech on Sunday. Construction is planned to start in the first quarter. A news release described The Line as a walkable \u201cbelt of hyper-connected future communities, without cars and roads and built around nature.\u201d It said the city would have 1 million residents and create 380,000 jobs by […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-394973","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=394973"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/394973\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=394973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=394973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=394973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}