Neom’s acting chief reviews Saudi mega-project after setbacks

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In recent weeks in charge of Saudi Arabia’s Acting CEO, two people have said that the scope and priority of the projects between Crown Prince Mohammed bin Salman’s flagship scheme have launched a “broad review” of priority.

Ayman Al-Mudaifa was appointed chief executive in charge of November Suddenly Nadmi al-Nasser exitWho has led a $ 500bn mega project for six years, has faced an increasing investigation into his management style and pressure to provide results.

A person familiar with this subject said that the original pneum projects were “generally running”, but some “some” are being reviewed in terms of their opportunities “.

Some tourism development in the Red Sea was delayed where the work was not started, the person added.

The review is “taking place in a limited organization environment”, the person said. “Some work was done that needs to be seen again.”

Officials describe the world’s largest construction site “gigapject”, extending to the borders of Jordan and Egypt across the desert and the wide area of ​​the mountains.

It has included multiple development, including a future Linear City called Line, which is supposed to last 170 km; A coastal supply and industrial zone is known as oxagon; And a ski resort called Trozena that is about to host the Asian Winter Games in 2029.

Former state oil agency Saudi Armko executive Nasar joined NewEOM after establishing fame to oversee the larger state infrastructure project.

However, Neom has fought against the budget and the ongoing projects on the timeline, and since its inauguration in 2017, Kingdom has raised skepticism from the interior and outside. Saudi officials tell the skeptic that pneum is a 50-plus year-or even 100 year-project.

Riyadh has come to review with Riyadh recovering the priorities of Riyad after almost a decade of insanity as oil prices fall and the government wants to manage the huge scale of projects announced as part of Prince Mohammed’s Vision 2030 program. Kingdom.

As a result, state -related entities are being forced to strengthen their belts, consultants are being cut off, and some projects are being scalled back or phased for a long time.

A second person said that “What would be doubled is being reviewed to decide.

“This is simply general good governance. It relates to [spending] Recovery, “the person said.” The pneum is a lot of pressure for delivery because it is seen as totemic – it is seamlessly associated with Vision 2030. “

“This is not just for Saudi Arabia, but an unprecedented project.”

Prince Mohammed is the neum’s hands-on chair, which is the focus of his highly ambitious economic conversion program to reduce the dependence of Kingdom on oil income. NEOM Public Investment Fund, owned by $ 940 billion sovereign asset funds.

When it was announced by moodifer’s appointment, pneum said that the project would enter “a new phase of delivery”, adding that the new leadership would confirm the “operational continuity and skills” in matching the overall vision and objectives of the project.

Earlier, Moodifa, who led the PIF’s local real estate department, is expected to be appointed CEO, according to one.

PIFT is overseeing all major development projects across the Kingdom and is under pressure to give results to the ground nearly a decade after Prince Mohammed 2030.

Neom did not respond to any request for the comment.