Saudi Arabia’s oil extraction infrastructure is being redefined into something completely different: an amusement park. On October 15th, the Public Investment Fund (PIF) announced the launch of The Rig, a new tourism project inspired by offshore oil platforms. The plans include the conversion of an oil rig into a 150,000 square meter “extreme park”, CNN reported.
Located in the Arabian Gulf, the project will span a combined total area of more than 150,000 square meters and provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences. According to CNN, The Rig will include 3 hotels and 11 restaurants spread over a number of connected platforms. Other entertainment activities include roller coaster rides, as well as bungee jumping and skydiving.
The Rig is a project in the tourism and entertainment sector, one of PIF’s key strategic sectors, and is expected to be a significant value-add to the local economy. To ensure the sustainable preservation of the environment in the project’s vicinity, the project will follow leading global standards and best practices, further supporting the Kingdom’s broader efforts on environmental protection.
This project is a unique tourism attraction, expected to attract tourists from around the world, while being especially popular with citizens and residents of the GCC countries in the region.
The project is in line with PIF’s strategy 2021-2025 to drive innovation in Saudi Arabia’s tourism and entertainment sectors, providing promising development opportunities to achieve economic diversification in line with the Saudi Vision 2030 objectives.
To support Saudi Arabia’s efforts to become a leading global tourist destination, PIF has established several major projects and companies in various regions within the country, including the Red Sea Development Company, Alsoudah Development Company and the Cruise Saudi Company.