Riyadh: ( G20 Summit ) Saudi Crown Prince Mohammed bin Salman has inked a Memorandum of Understanding (MoU) to establish a new economic corridor connecting India, the Middle East, and Europe.
According to Saudi Arabia’s official media, the MoU outlines the economic corridor’s components, which encompass electricity and hydrogen pipelines.
Addressing the G20 Summit in New Delhi, the Crown Prince emphasized that the project aims to bolster economic interdependence and serve the common interests of the participating nations.
He further stated that the initiative would support the development and maintenance of critical infrastructure, including railways and ports, facilitating increased trade in goods and services.
Mohammed bin Salman also highlighted the project’s potential to boost trade among the participating countries and promote the import of energy resources, including hydrogen, to enhance energy security.