Saudi Arabia to set aside $80 bn for Prince’s megaproject

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Saudi Arabia will set aside $80 billion (300 billion riyals) for Prince Mohammed bin Salman’s flagship megaproject, Neom, alongside investing in companies that will operate from there. The Prince plans to expand the fund by engaging investors and through an IPO of Neom in Saudi Arabia. Neom is the Prince’s megaproject to turn a desert expanse into a high-tech region.

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