Under the terms of the collaboration, both parties will work side by side to establish projects and partnerships that could potentially benefit both sides across crucial and strategic sectors, especially the energy and water desalination sectors on the Red Sea.
This will follow further research from the concerned ministers in Saudi Arabia and Jordan along with officials of NEOM regarding the scope and economic feasibility of the projects.
Established in 2019 and owned by the Saudi Public Investment Fund, NEOM Co. aims to develop the relevant area residing northwest of the Kingdom.
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