Saudi Arabia to Inject £250 million into Greater Manchester Economy – Groundbreaking Commercial Graphene Production Deal

Highlights

• Graphene Innovation Manchester partners with Saudi Arabia’s NEOM Giga-Project to establish a research and innovation hub.
• The collaboration is expected to attract £250 million in investment.
• 1,000 jobs will be created in the Greater Manchester region.
• This partnership supports Saudi Arabia’s Vision 2030 plan to diversify its economy and become a global innovation center.

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Saudi Arabia is investing heavily in Greater Manchester’s economy, highlighted by a groundbreaking commercial production deal involving graphene, a material first discovered at the University of Manchester. Graphene Innovation Manchester (opens in a new tab) will collaborate with Saudi Arabia’s NEOM Giga-Project to establish a research and innovation hub, expected to attract £250 million in investment and create 1,000 jobs in the region. This marks a significant milestone two decades after graphene’s discovery.

The NEOM Giga-Project is a visionary development initiative by Saudi Arabia aimed at creating a futuristic, sustainable region in the country’s northwest, encompassing parts of Tabuk Province. Announced in 2017 by Crown Prince Mohammed bin Salman, NEOM is a cornerstone of Saudi Arabia’s Vision 2030 plan, which seeks to diversify the economy away from oil dependency and position the nation as a global innovation hub.