Saudi crown prince says NEOM will elevate capital amounting to 500 billion riyals -state TV

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CAIRO — Saudi Arabia’s Crown Prince Mohammed Bin Salman mentioned the federal government will elevate 500 billion riyals of capital in 2027 and faucet the marketplace for a further 200-300 billion riyals for the nation’s futuristic metropolis venture NEOM, state al-Ekhbariya TV reported early on Tuesday.

The crown prince added in remarks to reporters that NEOM will depend on authorities assist till 2030, then it is going to turn into self-sustaining.

The crown prince additionally mentioned that NEOM will add a trillion riyals to the Saudi inventory market’s worth. (Reporting by Enas Alashray and Lilian Wagdy; Modifying by Kim Coghill)

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