NEOM seeking investors for $20bn brine complex in OXAGON

Saudi Arabia’s $500-billion megaproject NEOM is negotiating with entities to invest $20 billion to develop its planned brine chemicals complex in the industrial city OXAGON, according to a report.  Citing a close source familiar with the matter, MEED reported that the development will be built in phases and require somewhere between $15 billion to $20 billion in investments.  

NEOM’s water and energy subsidiary ENOWA said the brine generated from the desalination plant will be treated to feed industries utilizing high-purity industrial salt, bromine, boron, potassium, gypsum, magnesium and rare metal feedstocks, the report added.

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