INDUSTRY WATCH
has set out a clear strategy for economic
diversification and development through
Vision 2030.
“Attracting world beating technology
companies like VHO to our hub of
innovation and industrial development
at KAEC is an important indicator of the
momentum behind our plans. Establishing
a CoE located at the Industrial Valley will
drive job creation, connect our cities and
people while stimulating R&D and tech
investment that will be the foundation of
our future economy.
“KAEC is fast establishing itself as the strategic
location of choice for companies seeking to
expand into KSA and the wider region and
has already attracted more than 118 leading
local and international companies.”
The study further provides analysis on the
economic impact of the CoE and wider
VHO development in the Kingdom, focusing
specifically on the growth of hyperloop
supply chains and the acceleration of
innovation clusters across the KSA. Assessing
short and long-term metrics, the study
looked at the role of a manufacturing centre
and the local and global supply chains
required to facilitate industrial development
of this nature within KAEC.
Commenting further on the centre, VHO’s
Jay Walder, added: “With VHO’s technology
we are transforming inspiration into practical
innovation. We have developed patented
technology and are building a strong network
of public and private partners committed
to making hyperloop the catalyst of a
transportation revolution in years to come.” n
Jay Walder, CEO, VHO
About Virgin Hyperloop One
Virgin Hyperloop One is the only
company in the world that has built a
fully operational hyperloop system. Our
team has the world’s leading experts in
engineering, technology, and transport
project delivery, working in tandem
with global partners and investors to
make hyperloop a reality, now. Virgin
Hyperloop One is backed by key investors
including DP World, Caspian VC Partners,
Virgin Group, Sherpa Capital, Abu Dhabi
Capital Group, SNCF, GE Ventures,
Formation 8, 137 Ventures, WTI, among
others. For more information, visit www.
virginhyperloopone.com.
About King Abdullah
Economic City
King Abdullah Economic City (KAEC) is
the largest privately funded new city in
the world. Situated on the west coast
of the Kingdom of Saudi Arabia, KAEC
covers an area of 181 square kilometres
of land, approximately the size of
Washington DC. KAEC comprises King
Abdullah Port, the Coastal Communities
residential districts, the Haramain Railway
district and the Industrial Valley. The city
is under development by Emaar, The
Economic City, a publicly listed Saudi
joint-stock company established in 2006.
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