RIYADH: The Red Sea Development Co., known as TRSDC, made great strides in its mission to build the world’s largest tourism spot powered by renewable energy on Saudi Arabia’s west coast.
The Kingdom’s PIF-owned TRSDC was established in 2018 to drive the development of The Red Sea Project, known as TRSP. It is one of the key large-scale giga-projects announced by Crown Prince Mohammed bin Salman the year before.
Earlier this month, a Saudi ACWA Power-led consortium secured $1.33 of financing to operate the renewable power-based multi-utilities infrastructure that will serve the site.
The multibillion-dollar project, based between the cities of Umluj and Al Wajh, covers 28,000 square kilometers — an area the size of Belgium’s size — which includes over 90 untouched islands, miles of desert dunes and mountain landscapes.
Alignment to Vision 2030
TRSP, as part of the Kingdom’s giga-projects, falls in line with its Vision 2030 roadmap that aims to diversify the economy and reduce reliance on oil. The plan seeks to boost tourism revenue from its current…
