In the relentless pursuit of a clean and eco-sustainable future where energy efficiency is paramount, Saudi Arabia through the NEOM Group has unveiled plans to build the world's largest floating city. Set to be one of 10 regions within NEOM's development in the north-east of Saudi Arabia. Oxagon will become a port city on the Red Sea, designed to take advantage of shipping travelling through the Suez Canal. The city will act as a port and logistics hub for the wider NEOM project, a renewable energy-powered region that is part of Saudi Arabia's Vision 2030 plan to diversify its economy and minimise dependence on oil.
"Oxagon will be the catalyst for economic growth and diversity in NEOM and the Kingdom, further fulfilling our ambitions under Vision 2030. Oxagon will help redefine the global approach to industrial development in the future, protecting the environment while creating jobs and growth for NEOM. It will contribute to Saudi Arabia's regional trade and support the creation of a new focal point for global trade flows. This new city has started its development and we look forward to the rapid expansion of the city," said Mohammed bin Salman, Crown Prince and Chairman of the Board of Directors of NEOM Company.
Under the guidance of H.E. Bandar bin Ibrahim AlKhorayef, Minister for Industry and Mineral Resources and NEOM's CEO Nadhmi Al-Nasr, OXAGON signed a landmark MoU with @mimgov and @modon_ksa to collaborate in the implementation of the Future Factories Program. pic.twitter.com/K2v6IsQuJv— OXAGON (@NEOMOXAGON) December 16, 2022
NEOM has signed credit line agreements with local, regional and international banks, along with the execution of a letter of commitment with the Saudi Arabian Industrial Development Fund to build a green hydrogen-based ammonia production plant. The plant, to be located in the $500 billion NEOM giga-project, will integrate up to 4 GW of solar and wind power to produce up to 1.2 million tonnes of green ammonia that translates into up to 600 tonnes per day of carbon-free hydrogen, according to a press release.
The Oxagon project will be one of the most advanced models of a city of the future. It will have an industrial 4.0 technology area of more than 48 square kilometres, the capacity to house more than 90,000 people and one of the most important seaports of the future, which will host about 13% of the world's trade, thus relieving the Suez Canal traffic. To top it all off, the city, 7 kilometres long at its widest point, will be 100% sustainable with energy from renewable sources, especially wind power.
The central urban environment, comprising a large area in the southwest corner of NEOM, is centred around the integrated port and logistics centre that will house the majority of the city's anticipated residents. The unique octagonal design minimises the impact on the environment and provides optimal land use, with the remainder open to preserve 95% of the natural environment. A defining feature of the city is the world's largest floating structure, which will become a hub for NEOM's Blue Economy and achieve sustainable growth.
Many of the features of The Line, which offer exceptional liveability, are reflected in Oxagon's urban landscape. Communities will be walkable or through hydrogen-powered mobility. Sustainable industry will be built around communities, minimising travel time and providing exceptional liveability with nature seamlessly integrated into the urban environment. The agile and integrated physical and digital supply chain and logistics system will enable real-time planning, resulting in safe on-time delivery, efficiency and profitability for industry partners.
Oxagon's development is well advanced and designs for major manufacturing facilities are underway. These facilities include the world's largest green hydrogen project involving Air Products, ACWA Power and NEOM in a tripartite venture; the world's largest and most advanced modular building construction factory with Gulf Modular International; and the region's largest hyperscale data centre, a joint venture between FAS Energy and NEOM. With a best-in-class regulatory system for massive support, Oxagon will grow rapidly and welcome its first manufacturing tenants in early 2023.