Riyadh: The Kingdom of Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday announced the launch of NEOM’s industrial city, known as OXAGON, which is set to be the largest floating industrial complex in the world, the Saudi Press Agency (SPA) reported.
It is located on the Red Sea near the Suez Canal, and south on the line, it will include the present-day port of Duba, which is now part of OXAGON.
Approximately 13 percent of global trade passes through the Red Sea, and OXAGON is positioned to be one of the world’s most technologically advanced logistics hubs with state-of-the-art integrated port and airport connectivity.
OXAGON complements the same philosophy and principles of THE LINE, which was announced in January, and will offer exceptional livability in harmony with nature, according to a statement carried by Saudi Press Agency.
The Crown Prince said in his announcement, “OXAGON will be the catalyst for economic growth and diversity in NEOM and the Kingdom, further meeting our ambitions under Vision 2030.
“OXAGON will contribute to redefining the world’s approach to industrial development in the future, protecting the environment while creating jobs and growth for NEOM.
“It will contribute to Saudi Arabia’s regional trade and commerce, and support creating a new focal point for global trade flows. I am pleased to see that business and development have started on the ground and we look forward to the city’s rapid expansion.”
NEOM CEO Nadhmi Al-Nasr said: “Through OXAGON, there will be a fundamental shift in how the world views manufacturing centers. What encourages us is to see the enthusiasm of a number of our partners who have shown eagerness to start their projects in OXAGON.
OXAGON will establish the world’s first fully-integrated port and supply chain ecosystem for NEOM. The port, logistics, and rail delivery facility will be unified, providing world-class productivity levels with net-zero carbon emissions, setting global benchmarks in the adoption of technology and environmental sustainability.
The net-zero city will be powered by 930 clean energy and will become a focal point for industry leaders who want to pioneer change to create the advanced and clean factories of the future.
Seven sectors form the nucleus of OXAGON’s industrial development, with innovation and new technology creating a vital base for these industries. These industries are sustainable energy; autonomous mobility; water innovation; sustainable food production; health and well-being; technology and digital manufacturing (including telecommunications, space technology and robotics); and modern methods of construction; all powered by 930 renewable energy.