Saudi Arabia to establish world's largest floating industrial complex 

Saudi Arabia's Crown Prince Mohammed bin Salman announced on Tuesday the launch of NEOM's industrial city, known as OXAGON, which is set to be the largest floating industrial complex in the world, Report informs, citing Arab News.

"OXAGON will be the catalyst for economic growth and diversity in NEOM and the Kingdom, further meeting our ambitions under Vision 2030. OXAGON will contribute to redefining the world's approach to industrial development in the future, protecting the environment while creating jobs and growth for NEOM. It will contribute to Saudi Arabia's regional trade and commerce and support creating a new focal point for global trade flows. I am pleased to see that," the Crown Prince said.

OXAGON will establish the world's first fully-integrated port and supply chain ecosystem for NEOM. The port, logistics, and rail delivery facility will be unified, providing world-class productivity levels with net-zero carbon emissions, setting global benchmarks in the adoption of technology and environmental sustainability.