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Saudi Arabia appoints Neom CEO adviser to Crown Prince

Saudi Arabia appoints Neom CEO adviser to Crown Prince
Nadhmi al-Nasr will replace Kleinfeld at Neom

Riyadh – Mubasher: Saudi Arabia has named Klaus Kleinfeld, the former chief executive officer of German industrial conglomerate Siemens and US aluminum producer Alcoa, as an adviser to Crown Prince Mohammed bin Salman.

Kleinfeld is to start his new post as of next August, leaving his current position as a chief executive officer of the GCC nation’s Neom mega-project, according to an official Saudi statement on Tuesday.

The German executive will take over wider responsibilities in order to boost the oil-rich kingdom’s economic, technological and financial development, the statement showed.

Nadhmi al-Nasr, who has been developing a strategy for the project, will replace Kleinfeld at Neom. Al-Nasr has over a 30-years experience at state-run Saudi Aramco.

In October 2017, Bin Salman announced launching Neom project – a $500 billion business and industrial zone extending into Egypt and Jordan.

The Crown Prince has launched “Vision 2030” reform plan in a bid to diversify the Saudi economy far from its dependence on oil revenues and invest more heavily in infrastructure.