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Saudi Arabia Presents ‘The Line,’ an Icon for Nature Conservation

The Line pedestrian city in NEOM is the first model for preserving the planet in the world. (SPA)
The Line pedestrian city in NEOM is the first model for preserving the planet in the world. (SPA)
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Saudi Arabia Presents ‘The Line,’ an Icon for Nature Conservation

The Line pedestrian city in NEOM is the first model for preserving the planet in the world. (SPA)
The Line pedestrian city in NEOM is the first model for preserving the planet in the world. (SPA)

Saudi Crown Prince Mohammed bin Salman’s unveiling of plans to build a huge new zero-carbon city at NEOM, a mega project and a key pillar of Kingdom Vision 2030, has put the Kingdom at the forefront of countries pursuing the establishment of modern cities.

Located in northwestern Saudi Arabia, the project named “The Line”, will be home to a million people and have no cars and no streets, Crown Prince Mohammed bin Salman said.

Building The Line is set to cost between $100 to 200 billion. The Crown Prince confirmed that the backbone of investment would come from Saudi Arabia and the Kingdom's sovereign wealth fund – the Public Investment Fund (PIF) – as well as local and international investors for the NEOM project.

Positive reactions towards the new project flooded social media platforms.

According to the Crown Prince, the project was announced after three years of planning.

More so, he confirmed that communities at The Line will be powered by Artificial Intelligence and the city will comprise carbon-positive urban developments powered by completely clean energy.

The project will be an economic engine for the Kingdom and will drive diversification in line with the Vision 2030 reform program.

Construction of the revolutionary city will preserve 95% of nature within NEOM and will commence in the first quarter of this year.

The city will be a 170-kilometer belt of “hyper-connected future communities,” and will be built around the natural environment, confirmed the Crown Prince.

“We need to transform the concept of a conventional city into that of a futuristic one,” he added at an event to launch the city.

“By 2050, one billion people will have to relocate due to rising CO2 emissions and sea levels. 90% of people breathe polluted air,” the crown prince said.

“Why should we sacrifice nature for the sake of development? Why should seven million people die every year because of pollution? Why should we lose one million people every year due to traffic accidents? And why should we accept wasting years of our lives commuting?” he asked.

The pedestrian city will have services such as schools, health centers and green spaces, as well as high-speed public transportation. It also promises that everything anyone could need would be only a five-minute walk away.

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SABIC Expects Capital Expenditure of $4 Bn in 2025

One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)
One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)
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SABIC Expects Capital Expenditure of $4 Bn in 2025

One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)
One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)

Saudi Basic Industries Corporation (SABIC), one of the world’s largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting continued pressure on the global petrochemical sector.

Despite this, the company is maintaining disciplined capital investment management, with capital expenditure expected to range between $3.5 billion and $4 billion in 2025.

The loss was primarily attributed to a 1.05 billion riyal decline in gross profit, driven by rising feedstock prices, along with non-recurring costs of 1.07 billion riyals linked to a strategic restructuring initiative aimed at streamlining annual costs by approximately 345 million riyals and improving long-term operational efficiency.

SABIC CEO Abdulrahman Al-Fageeh, speaking at a press conference following the release of the company’s results, highlighted ongoing challenges in the global economy, including a slowdown in global GDP growth.

 

 

“The first quarter business environment was marked by uncertainty, with global economic growth at just 2.97%, along with a slowdown in the manufacturing PMI, which intensified challenges for the sector,” he said.

Despite the losses, Al-Fageeh noted SABIC's remarkable resilience, supported by what he described as “stable demand” for petrochemicals. He emphasized the company’s continued focus on operational excellence and its transformation efforts throughout the year.

SABIC projects its capital expenditure to range between $3.5 billion and $4 billion in 2025, reaffirming its commitment to creating long-term value through operational excellence, transformation, and systematic growth as part of its future vision.

Mohammed Al-Farraj, Head of Asset Management at Arbah Capital, commented to Asharq Al-Awsat that initial forecasts from various research firms prior to the results announcement were mixed. While some expected a significant year-on-year drop in net profit, others predicted revenue growth.

“Looking at the reported results, we see that revenue aligned with expectations, indicating slight year-on-year growth, while the reported net loss was smaller than some estimates, which had anticipated larger losses,” Al-Farraj said.

“However, the results still fall short of profits from the same period last year. It is important to consider the impact of one-time restructuring costs when making comparisons,” he explained.