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Saudi Arabia plans zero carbon industrial park

Saudi net zero KAEC
King Abdullah Economic City is being developed on the Red Sea coast of Saudi Arabia
  • Green zone for King Abdullah Economic City
  • Collaboration with green investor Skytower 
  • Kingdom aims to be net zero by 2060 

Plans for a zero carbon industrial park at King Abdullah Economic City, the megacity being developed on Saudi Arabia’s Red Sea coast, are under way following an agreement with green investment company Skytower.

Saudi Press Agency said that King Abdullah Economic City’s organising body signed the deal with Skytower on Monday.

It reported that the partnership would “harness the expertise and resources of both parties to develop and enhance sustainability in the kingdom, in line with Saudi green initiatives”.

The collaboration is likely to “attract numerous investments”, it added. 

Saudi Arabia has pledged to cut its carbon emissions to net zero by 2060, and to invest more than $180 billion to reach that goal.

Skytower is an investment company created by a Saudi-US-Chinese alliance of companies.

Its chief executive, Eric Fang, is also founder of Atlas Renewables, the US clean energy solutions company, and a former board member of the George Bush Foundation for US-China Relations.   

Fang said Saudi Arabia could be a major force in driving the adoption of renewable energy in the region, according to Asharq Al Awsat newspaper. 

The low-carbon agenda provides opportunities for greater collaboration between the kingdom, the US and China, he added. 

Saudi Arabia will hold its third Saudi Green Initiative forum during the Cop28 summit in Dubai on December 4.