Saudi Arabia’s $500 billion in oil-free future

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Saudi Arabia presents it as the long-term city to diversify and expand its economy. Critics say Saudi Crown Prince Mohammed bin Salman’s futuristic desert city, which will be a narrow line more than a hundred miles long, is a pipe dream. NEOM’s futuristic mission is a key pillar of Saudi Arabia’s Vision 2030 program to animate and diversify its economy, according to the Vision 2030. NEOM website and its 3 so-called “regions,” the line, Oxagon and Trojena, will be built on 26,500 square kilometers (10,230 square miles) in northwestern Saudi Arabia and introduce a new style of urban sustainability where citizens “embrace a culture of exploration, risk-taking and diversity. “

But the entire project, estimated at about $500 billion, is free of controversy, ranging from doubts that the very ambitious architectural and urban design can ever be realized, to human rights violations, unusual in the Kingdom.

This summer, the Crown Prince unveiled the design of THE LINE, the futuristic city without roads, cars or emissions, which will run on one hundred percent renewable energy and 95% of the land will be preserved for nature.

“The designs revealed for vertical city communities will challenge classic flat, horizontal cities and create a style for preserving nature and editing human habitability. THE LINE will take on the demanding situations facing humanity in urban life and shine smoothly in select lifestyles. ” the crown prince said in July.

The Line promises to be a zero-carbon city through the elimination of carbon-intensive infrastructure such as cars and roads. It will work with one hundred percent renewable energy, adding the operations of its industries. The line will be only two hundred meters (656 feet) wide, but 170 kilometers (105 miles) long and 500 meters (1,640 feet) high. The end-to-end adventure through a high-speed exercise will take 20 minutes. The line is planned to eventually accommodate nine million people. Oxagon, also in the progression of NEOM, will host industries and innovations, adding a hydrogen plant, while Trojena will offer adventure sports and skiing throughout the year ending in 2026, according to Saudi Arabia. This month, NEOM named its first sister hotel for the long-term growth of mountain tourism destination Trojena. NEOM aims to attract more than five million visitors by 2030, he adds.

According to Saudi Arabia’s plans, NEOM will be operational until the end of the decade.

How the Kingdom will pay for this is not as detailed as the project and vision of the NEOM regions and their never-before-seen futuristic and futuristic progression towards one hundred percent blank energy.

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In July, Mohammed bin Salman said Saudi Arabia planned to set up an $80 billion investment fund to expand the NEOM megaproject.

The Kingdom will also attract foreign executives by paying more than a million dollars a year each, above the average salary of $830,000 in 2021 for CEOs of the largest U. S. companies. Many might be tempted: Saudi Arabia Arabia has no source of income tax.

However, cash (as much as $500 billion) may be one of the smallest disorders to the development of NEOM. Some architects and urban planning experts doubt that the megaproject can triumph over the physical and environmental barriers to such a narrow but taller and much longer construction. “city”, while others argue that any environmental benefit would be outweighed by the building’s huge carbon footprint.

Then there is the human rights factor, which lurks somewhere when Saudi Arabia is involved. This month, rights organization ALQST said the Kingdom had sentenced to death 3 men who refused to have their tribe expelled from their homeland to make way for NEOM.

By Tsvetana Paraskova for Oilprice. com

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