World's largest construction project faces spiralling costs, reluctant investors, design difficulties, and concern over alleged human rights abuses
The futuristic Saudi city aims to feature two massive, mirror-encased skyscrapers that extend over 170km of desert and mountain terrain Chief operating officer Giles Pendleton wrote last week, “The masterplan for The Line remains at 170km”, claiming a “record month” for excavation.But independent analysts are unconvinced that the full scale of the project will be realised.
The majority of the funding so far has been raised by the government through domestic sources, including the kingdom’s sovereign wealth fund, Public Investment Fund, Saudi banks, and the dividends of leading companies such as the world’s largest oil firm, Aramco.Just 2.4km of the structure is scheduled to be complete by 2030
But Mr Ravenscroft believes that with the wealth and power behind the project it could still be realised in some form.