THE LINE infrastructure to cost $100-$200bln

NEOM — Crown Prince Muhammad Bin Salman announced that the cost of infrastructure of THE LINE project at NEOM would range between $100 billion and $200 billion.

“The backbone for investment in THE LINE project will come from the support of the Saudi government, the Public Investment Fund (PIF), and local and international investors for the NEOM project as a whole, amounting to $500 billion over a period of 10 years,” he said.

The Crown Prince pointed out that the announcement of THE LINE project at this time in particular comes as an epitome of the preparations and planning that have been made over the past three years, Asharq Al-Awsat reported.

“The project will be technically integrated with all systems within the city,” the Crown Prince said, citing an example that the commuting system will be linked with the rest of the systems to provide a unique user experience for the residents, and it will be based on artificial intelligence techniques.

The Crown Prince affirmed that the project will be a civilizational revolution for mankind, and it will revolutionize the field of nature preservation through its features that make it ecofriendly.

THE LINE is one of the most complex and challenging infrastructure projects in the world and forms part of extensive development work already underway at NEOM, which is part of the world-class, diversified portfolio of PIF, one of the largest sovereign wealth funds in the world.

The Crown Prince announced on Sunday that the construction of THE LINE, which is tipped as a revolution in urban living at NEOM, would commence in first quarter of 2021.