Saudi Arabia is investing in NEOM Project which will build a Mega City of $500 Billion. Do you know what NEOM stands for? or What Exactly NEOM means? So, here it is.
NEOM is derived from NEO along with M. NEO means “new” and M stands for “Mostaqbal” which means future. So NEOM means New Future of the kingdom which will create a citiy of Robots & renewables.
NEOM will be built on the Saudi Arabia Red Sea coast and will focus on industries including energy and water, biotechnology, food, advanced manufacturing and entertainment.
Its a 500 billion project which 70% of the world population can reach within 8 hours of time.
Invesment Sectors in NEOM:
- Human civilization
- Energy and Water
- Advanced Manufacturing
- Technological & Digital Sciences
Technology to be used in NEOM:
- Artificial Intelligence, Virtual reality and augmented reality
- Tasks Handled by Robots
- All Services processes to be 100% automated
- Novel growing & procesing Food practices
- Automated Driving & Passenger Drones
- City layout powered by renewable drones
- City layout powered by renewable energy
- Free World class Online education
- Wireless high Speed Internet
- Full scale e-governance
NEOM is estimated to be completed by 2025.
10 Things to know about NEOM Project:
1) NEOM is a Industrial Zone Area
2) To be built on 26,500 square KMs area
3) Invest of 500 Billion dollars
4) NEOM will be powered fully by Solar & Wind energy
5) Women empowerment: Women working along with Men
6) Klaus Kleinfeld, a former chief executive of Siemens AG and Alcoa Inc, to run the Neom project
7) Fully automated by Robots and automation
8) Neom is developed to be independent of the Kingdom’s existing governmental framework, excluding sovereignty
9) It will be a Global hub for all the continents
10) To be completed by 2025
NEOM aims to thrive the transformation of the Kingdom into a leading global hub through the introduction of value chains of industry and technology.