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A newWSJ reportsuggests that Saudi Arabia ’s now eight - yr - former Neom project — a futurist , carbon - achromatic , 105 - mile - long linear metropolis envisioned by Crown Prince Mohammed bin Salman — has become a fiscal sinkhole .
Plagued by delays and price overruns , the country , which has already shelled out $ 50 billion , could reportedly face another 55 class of grammatical construction , with an amazing visualize cost of $ 8.8 trillion , according to an home audit presented to Neom ’s gameboard last summer . That ’s more than 25 times Saudi Arabia ’s annual budget , notes the Journal .
The situation is start to resemble Saudi Arabia ’s ownWaterloo , with MBS misjudging the monumental challenge inbuilt in his strategy , much like Napoleon did before him . Among the rough realness jeopardize to derail the task are insufficient labor , short roads , and a lack of electricity .
There are some winners , however . confabulate giant McKinsey & Company is reportedly earning more than $ 130 million annually for its services , despite some contestation fence in its part , given the business firm ’s involvement in both the provision and validation of some of the labor ’s financial projection , per the story . A McKinsey spokesman tells the WSJ the firm has “ rigid communications protocol to foreclose fight of interest in our mesh . ”
