RIYADH: NEOM, the $500 billion (SR1.9 trillion) jewel in the crown of the Kingdom’s Vision 2030 plans, took several strides forward this year with the announcement of two major projects and news that the region could welcome its first visitors in 2024. The new net-zero megacity on the Kingdom’s northwest Red Sea coast will cover 10,000 square miles, an area 33 times the size
The company is pursuing investment opportunities in projects that could potentially reduce Greenhouse Gas (GHG) emissions, following the recent announcement of its ambition to achieve net-zero Scope 1 and Scope 2 GHG emissions across its wholly-owned operated assets by 2050.
Saudi oil giant Aramco plans to expand its focus on emerging sectors to drive private sector innovation and investment. During the Future Investment Initiative, it outlined potential new projects in green hydrogen and sustainable technology solutions.
Aramco is expanding its focus on emerging sectors for renewable energy with a new Future Investment Initiative outlining a new green hydrogen and ammonia project.