Staff Writer

Giga-project, NEOM, is a core pillar for attracting global investment in Saudi Arabia, its Deputy CEO Rayyan Fayez has said.

"We have many opportunities where NEOM provides the enabling infrastructure - energy, water, digital connectivity and incentives - for third-party capital to come in and make the investments, he told FII Priority Europe 2026.

The $9 billion NEOM green hydrogen project is a great example, he said, which is being developed in partnership with Air Products and ACWA Power.

The project has secured $6.2 billion in debt financing, with the remaining financing provided by equity, Fayez said.

Collectively, as shareholders, they identified NEOM as a very attractive place to build such a large-scale industrial complex, he stated.

In April, NEOM said it has advanced regional connectivity by enabling a European multimodal land bridge, which facilitates truck-carried freight moving directly from Europe to Egypt and into the Gulf via the Port of NEOM.

Strategically located on the Red Sea and near key inland corridors, the Port of NEOM continues to expand its role as a stable regional hub supporting efficient cargo movement between Europe, Africa, Asia, and the Middle East.

(Editing by Anoop Menon) (anoop.menon@lseg.com) 

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