PIF's Amaala teams up with government entity with plans to harness emerging technologies
The company is partnering with the Saudi Federation for Cyber Security, Programming and Drones to adopt AI solutions
Amaala, the mega-project along the Red Sea in Saudi Arabia’s Tabuk province, joined forces with the Saudi Federation for Cyber Security, Programming and Drones (SAFCSP) to adopt emerging technologies in artificial intelligence and beef up its cyber security framework.
As part of the agreement, Amaala, a Public Investment Fund company, will leverage AI, drones and computer programming, the entities said in a joint statement on Monday.
“The adoption of technology is integral to realising the ambitions of Amaala,” John Pagano, Amaala’s chief executive, said.
The partnership will let Amaala “identify and adopt ground-breaking technologies, from AI to the Internet of Things” to ensure it is ready for the future, he added.
Located along Saudi Arabia’s north-western coast, Amaala borders the city of Neom and the Red Sea Project within the Prince Mohammed bin Salman Natural Reserve.
Dubbed the 'Riviera of the Middle East', the development will consist of 2,800 hotel rooms and 900 private residential villas along with a retail area with 200 outlets.
The undisclosed initial funding for the project is provided by the kingdom’s sovereign wealth fund PIF. The project has a target completion date of 2028 and is projected to generate up to 22,000 jobs for the kingdom.
The latest pact is part of the kingdom's efforts in building and empowering national capabilities in various technical fields, Muteb Alqany, chief executive of SAFCSP, said.
Besides joint training opportunities, the agreement will form the basis of continued growth through scientific research that will elevate capabilities in the fields of cyber security and technology, SAFCSP said in a statement.
Amaala will also feature an academy of the arts that aims to further develop young artists from Saudi Arabia and the broader region. The 3,000 square kilometre development, which will be spread across the three sites, will have its own airport and target luxury travellers.
Published: March 1, 2021 01:40 PM