SoftBank to work with Saudi Arabia on new city

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Tue, 24 Oct 2017 - 01:22 GMT

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Tue, 24 Oct 2017 - 01:22 GMT

Saudi Deputy Crown Prince Mohammed bin Salman attends a graduation ceremony and air show marking the 50th anniversary of the founding of King Faisal Air College in Riyadh - REUTERS

Saudi Deputy Crown Prince Mohammed bin Salman attends a graduation ceremony and air show marking the 50th anniversary of the founding of King Faisal Air College in Riyadh - REUTERS

RIYADH – 24 October 2017: SoftBank Group Corp will work with Saudi Arabia on the development of "Neom", a new business and industrial city announced on Tuesday.

Softbank Group CEO Masayoshi Son said at an investment conference in Riyadh on Tuesday that Saudi's Crown Prince Mohammed bin Salman had asked him to get involved.

"I think Neom is a fantastic opportunity," Son said, adding that the SoftBank Vision Fund would invest in Saudi Electricity Co (SEC).

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