A new one WSJ report suggests that the now eight-year NEOM project Saudi Arabia-a futuristic, carbon-neutral, 105 miles long linear city, which was presented by Crown Prince Mohammed Bin Salman, has become a financial dolin hole.
According to reports, the country, which has already released 50 billion US dollars, could report delays and cost crossing with further 55 -year construction work. According to an internal examination that was presented to the board of NEOM last summer, he has suspended amazing costs of $ 8.8 trillion. That is more than 25 times the annual budget of Saudi Arabia, notes the journal.
The situation resembles its own Saudi Arabia WaterlooWith MBS, who incorrectly affect the monumental challenges that are inherent in his strategy, similar to Napoleon before him. Among the hard realities that threaten to derail the project are insufficient workers, inadequate roads and a lack of electricity.
However, there are some winners. According to reports, the giant McKinsey & Company reports reportedly more than 130 million US dollars for its services, despite some controversy, which is surrounded by his role, since, according to history, the company is involved in the planning and the validation of some financial projections of the project. A McKinsey spokesman tells the WSJ that the company has “strict protocols to prevent conflicts of interest in our engagements”.
