NEOM's Future Hangs in Balance as Riyadh Tightens Fiscal Belt ...Middle East

Economy by : (OILPRICE) -
Saudi Arabia is reassessing the scope and timeline of its $500-billion NEOM initiative, according to Bloomberg and CNBC, with officials reportedly reviewing key components of The Line in response to deepening financial strain across the kingdom’s Vision 2030 infrastructure program. The move comes amid mounting vendor arrears and a liquidity crunch that has prompted an urgent reallocation of energy-sector capital and personnel. According to sources cited by CNBC, planners have frozen development on large portions of The Line, NEOM’s…

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