16:07 - 18.07.2023

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July 18, Fineko/abc.az. Saudi Arabia's megaproject Neom is seeking to raise 10 bn riyals ($2.7 bn) in loans.

ABC.AZ reports with reference to the foreign press that the project will be finished by 2030.

The early stages of the $500 bn planned city will be financed by money raised from local lenders. Banks are currently in negotiations with Neom, and the loan could be completed in the next few months.

The Line to be 160 km long and 200 m wide will be located at an altitude of 500 m above the Red Sea level. A notable aspect of The Line, which will have mirrored walls, is that it is closed to traffic.