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NEOM News

The latest news and information about NEOM, ENOWAOXAGONTHE LINE, TONOMUSTROJENA and other NEOM related projects

NEOM Reading List

We like to keep up with news and events in NEOM, Saudi Arabia and the surrounding area. Here are some of the news sites we read regularly.

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No, not that Peter Cook.

The UK architects’ designs for the linear desert metropolis known as THE LINE – the controverisal flagship project within the wider NEOM smart city development – are among those currently being displayed in the Saudi capital, Riyadh, until 29 April.  Early visualisations show two parallel mirror-clad skyscrapers running through the desert, with high speed rail, gardens and walkways suspended between them.

Terra Drone said today it has raised $14 million in Series C funding from Wa’ed Ventures, the venture capital arm of Saudi Aramco, marking the VC firm’s first investment in Asia.  The Japan-headquartered company, which builds drone software, hardware and uncrewed aircraft traffic management software, said the new capital brings its total raised to $97 million since its inception in 2016. It declined to comment on its post-money valuation. According to sources familiar with the situation, the startup was valued at more than $200 million in March last year when Terra Drone closed a $70 million Series B.

NEOM will be a model for modern projects and cities that represent the focus of the new economy, said CEO Nadhmi Al-Nasr. It will do so by embracing many different companies and industries while attracting qualitative foreign investments.  Al-Nasr pointed to NEOM’s efforts in implementing a circular economy based on model future thinking that enacts change at the level of production sectors and the standard of living. This enhances the contribution to the GDP.

East Pipes Integrated Co announced in a statement that it has signed multiple contracts with NEOM with total value of the contracts worth about $99.3 million.  The scope of works includes supplying of steel pipes for water transmission lines, and the duration of the contract is 12 months.

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