Saudi Arabia to launch Red Sea tourism resorts
RIYADH: Saudi Arabia on Tuesday announced the launch of a massive tourism project that will turn 50 islands and a string of sites on the Red Sea coast into luxury resorts.
The plan is part of efforts to diversify the ultraconservative kingdom's oil-dependent economy following a slump in energy prices.
It covers more than 180 kilometres (112 miles) on Saudi Arabia's western coastline, stretching from Umm Lajj to Al-Wajh.
Initial investments will be provided by the Public Investment Fund before the project is opened…