Satellite imagery showed advances in construction of Oxagon, a floating industrial complex that is a key component of Saudi Arabia’s Neom, currently the world’s largest construction site.

Newsweek has contacted Neom for comment.

Why It Matters

The new port city has a strategic location in one of the world’s busiest maritime trade routes connecting Asia, Africa, and Europe. Neom is the flagship element of Saudi Arabia’s Vision 2030 aimed at diversifying its economy away from oil dependence. Oxagon, The Line and the Trojena Ski resort are among its most ambitious pieces.

Neom has recently announced several progress reports, with a new CEO now in charge of resolving the project’s budget overruns and delays amid multiple simultaneous, ambitious, and costly projects.

What To Know

Images captured by the Copernicus Sentinel-2 satellites showed rapid progress made on Oxagon city and port, set to become one of the world’s most advanced port terminals, the facility lies on the Red Sea in northwestern Saudi Arabia.

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The Port of NEOM has received Saudi Arabia’s first fully automated, remote-controlled cranes, marking a key step in boosting Red Sea trade, automation, and tech-driven job creation, the company announced this week on LinkedIn.

The Red Sea corridor is a major shipping route linking Asia via the Indian Ocean, to Europe and Africa via the Suez Canal. Oxagon’s proximity to the canal, which facilitates almost 12% of global trade, provides it with a strategic edge, according to Blackridge Research & Consulting, an Indian-based specialized market research firm.

The port is part of an envisioned cutting-edge industrial city which will fully rely on renewable energy and aims to host some 90,000 inhabitants by 2030, according to the government’s vision.

Saudi Arabia’s Crown Prince Mohammed bin Salman had announced the establishment of Oxagon in 2021. “It will contribute to Saudi Arabia’s regional trade and commerce, and support creating a new focal point for global trade flows,” Al-Arabiya‘s English website quoted him as saying.

Neom’s Green Hydrogen Company (NGHC) is developing the world’s largest green hydrogen facility—a $8.4 billion project— at Oxagon.

What People Are Saying

Melissa Blake, Port Director at Neom wrote on Linkedin: “Port of Neom is excited to receive the first batch of cranes and other cargo handling equipment as we come another step closer to delivering our vision.”

Saudi Arabia’s Government Vision 2030’s website: “Sitting at the crossroads of 3 continents, Oxagon is a place where people, nature and technology come together in harmony.”

Vishal Wanchoo, CEO of Oxagon said in May: “Industrial development cannot continue at the expense of people or the environment. We’re offering a compact, mixed-use city where industry, nature, and community coexist.”

What Happens Next

The port is planned to act as the main trade gateway to northwestern Saudi Arabia, with a smart logistics hub, connects Asia, Europe, and Africa.