NEOM inks multiple MoUs to accelerate clean industrial transformation

Saudi Arabia’s sustainable energy push in NEOM is expected to get a further boost as the Kingdom’s $500-billion megacity has signed deals with Bosch and Bain & Co. to accelerate clean industrial transformation in Oxagon.

Oxagon is the industrial city in NEOM, which will operate with 100 percent renewable energy. The Kingdom also aims to turn this destination to a tourist hub, aligned with the goals outlined in Vision 2030.

In a post on X, Oxagon revealed that these memorandums of understanding with Bosch and Bain & Co. will help Oxagon “harness the expertise of each organization to shape the future of manufacturing through investments in innovation, technology and talent development.”

Vishal Wanchoo, CEO of Oxagon, commented: “Bain and Bosch share our vision to transform the existing industrial model. The collaboration aims to accelerate our ambition to enable factories of the future to build products of the future in NEOM and beyond.”

Developing giga-projects like NEOM is very crucial for Saudi Arabia as the Kingdom, which is on a path of economic diversification, is trying to emerge as a global tourism destination by the end of this decade.

Through its National Tourism Strategy, Saudi Arabia aims to attract 100 million tourists in the Kingdom by the end of this decade.

Earlier in October, NEOM released a short video and revealed that construction of a hospital, utilities and a number of roads has been completed within the city.

The video, which demonstrates the progress of developmental works of the city, noted that more than 3,000 people from 90 countries are working on the giga-project, and over 60,000 construction workers are on-site.

In the same month, NEOM also received the first major delivery of wind turbines for the world’s largest green hydrogen plant which is currently in development in the city.

NEOM Green Hydrogen Co., which is developing this project, said that the wind turbines were delivered at the Port of NEOM in Oxagon.

After the delivery, Wanchoo said that the arrival of wind turbines for the green hydrogen project is a major milestone for the port in Oxagon, as it continues to expand its operational capabilities.