OXAGON will be a blueprint for blue economy, and cuts ship-to-factory time to a day, says NEOM's CEO

OXAGON will be a blueprint for blue economy, and cuts ship-to-factory time to a day, says NEOM's CEO
NEOM CEO Nadhmi Al-Nasr. File photo
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Updated 17 November 2021

OXAGON will be a blueprint for blue economy, and cuts ship-to-factory time to a day, says NEOM's CEO

OXAGON will be a blueprint for blue economy, and cuts ship-to-factory time to a day, says NEOM's CEO

RIYADH: OXAGON, the industrial city of NEOM announced by Crown Prince Mohammed bin Salman, will be "a blueprint of the blue economy" that will rest on marine industry, NEOM CEO Nadhmi Al-Nasr told Arab News on Tuesday, adding that its facilities will cut the ship-to-factory time to a day at most.

He said the industrial city will reflect NEOM’s commitment to regenerative and innovative structure, as OXAGON will create land by “urbanizing the sea” with floating districts that will host marine research incubators, greenhouses and an oceanographic institute supported by mixed-use and residential communities.

“It will become a blueprint for the blue economy focused on the sustainable use of marine resources to boost economic growth, improve livelihoods, create employment and preserve the health of the oceanic ecosystem.”

The strategic location of OXAGON will redefine logistics and provide NEOM and the Kingdom accelerated access to Eastern and Western global markets, he added.

“The digital technologies, OXAGON will invest in, will enable it to become one of the world’s first fully integrated next generation port and supply chain,” he said.

“What this means is that we will have the capacity to reduce supply chain times by 2 to 3 weeks and expedite ship to factory delivery within 12 to 24 hours,” Al-Nasr elaborated.

Keeping in view NEOM’s semi-autonomous future, the top official is optimistic that the industrial hub’s regulatory structure will create a business climate that “drives innovation, fosters commercial ecosystems and generates growth.”

“OXAGON will be a one-stop shop for a seamless business journey offering support every step of the way,” he told Arab News.

When asked about maintaining a balance between industrialization and sustainability, the CEO referred to the distinct octagonal design, which he claimed will “support preserving 95 percent of the natural environment at NEOM, minimize impact on the land, preserve the coastline and optimize the total use of the terrain.”

OXAGON will become a blueprint for the Blue Economy

With more than 10km2 of primary Blue Economy plots that shall be the foundation for innovation across value chains, OXAGON will be reflecting NEOM’s focus on regenerative and innovative development

1. Including future plans for a pioneering oceanographic institute for marine exploration and research, marine biotechnology, and aquaculture

2. A floating cruise terminal that along with the oceanographic institute will become the main features of the floating structure, establishing the Blue Economy

3. In its final stages of development, the city will become the world’s first place to combine livability and industrial development (Industry 4.0), contributing to the Blue Economy and attracting innovators and researchers – the engine of NEOM

 “Built half on land and half on sea, the layout symbolizes OXAGON’s dedication to striking a balance between technology and ecology, industry and nature. Also, businesses operating there may impact change in more ways than one, thanks to low-cost 100 percent clean energy and net-positive energy infrastructure,” Al-Nasr explained.

He said OXAGON will be a testament that reaffirms NEOM’s mission to prove that exceptional livability and industrial advancement are not mutually exclusive.

“It will champion people-centric urbanism that prioritizes their quality of life,” Al-Nasr stressed.

“The city will be a place where people, industry and technology coexist in harmony, allowing them to make the largest impact on the world and the least impact on the planet. It will be a highly cognitive city with data and technology built into its DNA from inception, enabling it to not only adapt to its residents’ needs, but also evolve to anticipate them.”

To a question about the sectors that OXAGON will focus on, Al-Nasr said it will establish smart factories and products of the future across seven priority manufacturing sectors: Renewable energy, water innovation, sustainable food production, health and well-being, zero-emission autonomous mobility solutions, modern methods of construction. 

“This is all underpinned by an enabling tech and digital solutions that underpin everything we do at OXAGON and NEOM,” he added.

The city will be home to the world’s largest hydrogen production facilities, to support the foundation for the hydrogen economy. The plant will provide access to low-cost, zero-carbon clean energy.

He also said OXAGON will invest highly in research and development. “The development of OXAGON’s innovation campus, which will host the education, research and innovation ecosystem, provides a space to incubate new ideas and accelerate sophisticated products from labs to markets.”

Al-Nasr said OXAGON will partner with universities, industry associations and incubators to take part in revolutionizing manufacturing technology, advanced materials development and product design.


Saudi Arabia spends $991m on water projects in Jazan area

Saudi Arabia spends $991m on water projects in Jazan area
Updated 23 January 2022

Saudi Arabia spends $991m on water projects in Jazan area

Saudi Arabia spends $991m on water projects in Jazan area

RIYADH: Saudi Arabia’s Ministry of Environment, Water, and Agriculture, known as MEWA, launched on Sunday 20 water and environmental projects to provide sustainability in the southwest of Saudi Arabia, set to cost a total of SR3.6 billion ($991 million). 

The Ministry, in participation with the Emirate of Jazan Province inaugurated four water projects costing over SR2.5 billion, to produce desalinated water in Jazan.

Five further water projects costing more than SR709 million were also initiated to expand water transmission systems. Seven projects for water and environmental services costing SR346 million were initiated to expand distribution.

The inauguration involved four projects costing more than SR70 million, to enhance water resources, serving more than 1.3 million beneficiaries in the region.

 


Saudi Industrial Development Fund to provide new financing products worth $3bn this year

Saudi Industrial Development Fund to provide new financing products worth $3bn this year
Updated 23 January 2022

Saudi Industrial Development Fund to provide new financing products worth $3bn this year

Saudi Industrial Development Fund to provide new financing products worth $3bn this year

RIYADH: The Saudi Industrial Development Fund will launch and update new financing products to serve new sectors during the current year, at a value ranging between SR10 billion to SR11 billion ($2.6 billion to $3 billion).

The Fund's spokesperson Khalil Al-Nimri told Alarabiya it will be targeting four sectors, with the Supply Chain Finance program being one of the programs to be updated. Alarabiya didn't name the sectors.

This comes as the fund seeks to boost private sector investment in targeted sectors and appeal to a large number of investors. 

So far, the Saudi Industrial Development Fund has approved the financing of more than 100 projects in the mining sector, amounting to a total of SR28 billion, Al-Nimri said.  


Saudi Eastern Province closes $40m deal to improve its public transport network

Saudi Eastern Province closes $40m deal to improve its public transport network
Updated 23 January 2022

Saudi Eastern Province closes $40m deal to improve its public transport network

Saudi Eastern Province closes $40m deal to improve its public transport network

RIYADH: Riyadh-based Saudi Public Transport Co., also known as SAPTCO, has sealed a SR150 million ($40 million) deal for a public bus transport project in the Eastern Province’s Dammam and Al Qatif governorate.

The contract, signed with the Eastern Province Municipality, will be valid for five years, the homegrown transport firm said in a bourse statement.

The Transport General Authority partnered with the Eastern Municipality to supply the project with eight lanes over a distance of 453 kilometers, 212 stops, and 85 buses, SPA reported, citing the authority’s president Rumaih Al Rumaih.

From reducing the effects of environmental pollution to rationalizing energy consumption, the project comes in line with Saudi Vision 2030.

Upon its completion, the region is expected to see less traffic congestion and more organized transportation systems, SPA reported.

SAPTCO noted that the deal’s financial impact is expected to reflect on the company’s financial statements during the first half of the ongoing year.


UAE’s DEWA launches 16 power transmission stations totalling $816m last year

UAE’s DEWA launches 16 power transmission stations totalling $816m last year
Updated 23 January 2022

UAE’s DEWA launches 16 power transmission stations totalling $816m last year

UAE’s DEWA launches 16 power transmission stations totalling $816m last year

RIYADH: Dubai Electricity and Water Authority, known as DEWA, has inaugurated 16 new electricity transmission stations in 2021, at a total cost of 3 billion dirhams ($816 million).

These include fourteen 132kV stations with a transmission capacity of 2,100 megavolt-amperes, and two 400kV transmission stations with a conversion capacity of 4,000 megavolt-amperes in the Mohammed bin Rashid Al Maktoum Solar Park and Al Quoz 2. 

This brings the total value of DEWA’s investments in electricity transmission to 9.5 billion dirhams, CEO & MD of the authority, Saeed Mohammed Al Tayer, said.

The inauguration of the substations comes as part of DEWA’s efforts to increase the capacity, efficiency, and readiness of electricity transmission networks in Dubai, he added.


Makkah's $27bn project signs deal for power projects 

Makkah's $27bn project signs deal for power projects 
Updated 23 January 2022

Makkah's $27bn project signs deal for power projects 

Makkah's $27bn project signs deal for power projects 

RIYADH: Masar Makkah, a $27-billion mega project under development in Islam's holy city, is advancing work with new deal for its power requirments.

The project developer Umm Al-Qura Co. for development and construction, known as UAQ, signed an agreement with the National Electricity Transmission Co. to establish two central transmission stations and linking them to the electrical system network.

This agreement comes within the efforts made by the Saudi Electricity Company and its subsidiaries to provide a highly reliable electrical service to all giant projects in the Kingdom, Ibrahim Al-Jarbou, CEO of the Electricity Transmission Co. said.

Masar Makkah is 30 percent away from the completion of its infrastructure phase, Yasser Abu Ateeq CEO of Umm Al-Qura told Asharq News in Novebmer, adding that it has spent SR17 billion from the total SR23 billion allocated for the first phase, with the partial opening of the project slated for 2023.

The importance of Masar lies in its position as it will receive 80 percent of Makkah’s visitors as well as more than 60 percent of vehicles arriving from Jeddah. International hotels such as the Kempinski, Hilton Garden Inn and Taj will be some of the first developments of the project.

UAQ is a closed joint-stock company with investors from the private sector and state-owned investment funds, including the Public Investment Fund, Ministry of Finance, Public Pension Agency, the General Organization for Social Insurance, and the General Authority of Awqaf.