Thursday 26 October 2017

Saudi Arabia announces 100% clean energy megacity

Saudi Arabia has announced plans to build a $500 billion (£377.4bn) megacity, which will be powered entirely by renewable energy.

Crown Prince Mohammed bin Salman has already named the city 'NEOM' and has suggested it will span 26,500 square kilometres, an area 33 times larger than New York.

Situated at the country's borders with Jordan and Egypt, the city is planned to demonstrate how Saudi Arabia can continue to progress as its valuable oil reserves gradually fade.

It will be funded by the Kingdom of Saudi Arabia, as well as a number of regional and international investors.

The Crown Prince said the city will rely heavily on smart technology and robotics and is likely to have the highest GDP per capita in the world.

He added: "All of this will allow for a new way of life to emerge that takes into account the ambitions and outlooks of humankind paired with best future technologies and outstanding economic prospects."