A new WSJ report He suggests that the eight -year Neom project of Saudi Arabia, a futuristic, neutral carbon, 105 miles long -long -term planned by the heir prince Mohammed Bin Salman, has become a financial sink.
Plagued with delays and excess costs, the country, which has already disbursed $ 50 billion, could face another 55 years of construction, with an amazing projected cost of $ 8.8 billion, according to an internal audit presented to the Board of Neom last summer. That is more than 25 times the annual budget of Saudi Arabia, says the magazine.
The situation is beginning to resemble Saudi Arabia herself WaterlooWith MBS, judging the monumental challenges inherent to his strategy, just like Napoleon did it before him. Among the harsh realities that threaten to derail the project are insufficient work, inappropriate roads and lack of electricity.
However, there are some winners. According to the reports, the McKinsey & Company consulting giant is winning more than $ 130 million annually for its services, despite the fact that some controversy surrounds its role, given the participation of the company both in the planning and in the validation of some of the financial projections of the project, according to history. A McKinsey spokesman tells the WSJ that the company has “strict protocols to avoid conflicts of interest in our commitments.”