Saudi Arabia's Ambitious Expo 2030 Plans Unveiled

Saudi Arabia's sovereign wealth fund, valued at $925 billion, has taken a significant step by announcing a new initiative named Expo 2030 Riyadh Company. This entity will be responsible for constructing and managing the facilities dedicated to the highly anticipated Expo 2030 world fair.

According to a statement released by PIF to Reuters, the masterplan for Expo 2030 will encompass a sprawling 6 million square meters situated to the north of Riyadh. This strategic move aims to bolster the nation's global presence and accelerate economic growth.

The Expo is estimated to draw more than 40 million visitors, providing a substantial economic impact by adding approximately $5.6 billion to Saudi Arabia's GDP. This project represents a pivotal investment towards diversifying the kingdom's economy and enhancing its international standing.

(With inputs from agencies.)