NEOM planning up to six more projects within the next 3 years, in addition to The Line: CEO

In October 2017, the Crown Prince announced the launch of a new investment city, NEOM, in northwest Saudi Arabia, at a total investment of $500 billion. (NEOM/Gary Cummins)
In October 2017, the Crown Prince announced the launch of a new investment city, NEOM, in northwest Saudi Arabia, at a total investment of $500 billion. (NEOM/Gary Cummins)
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Updated 12 January 2021

NEOM planning up to six more projects within the next 3 years, in addition to The Line: CEO

NEOM planning up to six more projects within the next 3 years, in addition to The Line: CEO
  • Some of these resorts will open after three years

NEOM is planning to launch five to six projects for resort development within the city, in parallel with THE LINE, CNBC Arabia reported, citing NEOM CEO Nazmi Al Nasr.

The urban planning and development of all projects started, Al Nasr explained, adding that more details will be announced upon completion of each site plans.

Some of these resorts will open after three years, he added.

The most important step for the company in the past three years was to develop all strategies and get the board of directors’ approval.

During 2020, NEOM focused on facing the COVID-19 pandemic. The impact was minimal on the project growth and progress, while the biggest challenge was to continue attracting global and national partnerships.

Moreover, NEOM entered into partnerships with local firms to build workers accommodations and attract contractors for infrastructure works. NEOM also aims to attract more international and local firms in the long term, Al Nasr said.

Saudi employees at NEOM represent more than 45 percent, including engineers, financial experts, Al Nasr pointed out, concluding that nationals will lead NEOM development in cooperation with foreign employees.

Earlier this week, Crown Prince Mohammed bin Salman unveiled THE LINE project within NEOM, a city of million residents. The project development will start during Q1 2021, according to data compiled by Argaam.

In October 2017, the Crown Prince announced the launch of a new investment city, NEOM, in northwest Saudi Arabia, at a total investment of $500 billion.
 


Saudi Aramco, stc launch Dammam 7 supercomputer

Saudi Aramco, stc launch Dammam 7 supercomputer
Updated 1 min 36 sec ago

Saudi Aramco, stc launch Dammam 7 supercomputer

Saudi Aramco, stc launch Dammam 7 supercomputer
  • This is the next step in Aramco’s digital transformation

Saudi Aramco and stc announced on Tuesday, Jan, 19 the launch of Dammam 7, a new supercomputer among the top ten most powerful in the world.

The supercomputer offers new opportunities in both exploration and development and enhances Aramco’s decision-making on exploration and investment decisions, both companies said in a statement received by Argaam.

This is the next step in Aramco’s digital transformation, complementing a suite of advanced technologies that are reshaping core operations, driving efficiencies and reinforcing its industry leadership in geoscience.

The Dammam 7 supercomputer was developed at Dhahran Techno Valley in partnership with Solutions, a subsidiary of stc Group, and CRAY, a Hewlett Packard Enterprise subsidiary.

It has 55.4 petaflops of peak computing power, allowing it to process and image the world’s largest geophysical datasets.

Aramco President & CEO, Amin Nasser, said: “Dammam 7 supercomputer will help us with breakthroughs as part of our long term “Discovery and Recovery” strategy in our Upstream business.

“This technology that processes complex data faster will enable new discoveries and enhanced recoveries, which are crucial to both ensuring the availability of adequate supply to meet the demand for energy and to cut costs while boosting productivity.”

“Continuous investment in innovative technology is an essential enabler of our Company’s long-term growth strategy, and Dammam 7 is another step in our plan to invest in the right technology that drives production efficiency and resilience,” Nasser added.