Day: January 3, 2021

Riyadh, Qiddiya Investment Company (QIC), in partnership with Intamin Amusement Rides, has kicked off the design process for the Falcon’s Flight, the signature attraction of Six Flags Qiddiya – a one-of-a-kind theme park scheduled for opening in Qiddiya’s first phase. The Falcon’s Flight is set to become the world’s longest, fastest and tallest coaster. It will travel across approximately 4km, feature a vertical cliff dive maneuver into a 160m-deep valley using magnetic motor acceleration (LSM technology), and achieve unprecedented speeds of 250+ km/h. The Falcon’s Flight will also be the world’s tallest free-standing coaster structure featuring a parabolic airtime hill allowing a weightlessness airtime experience. Qiddiya’s Chief Executive Officer, Philippe Gas, commented on the signat...

Riyadh, Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef approved the implementation of a new Mining Investment Law, following its approval by the Council of Ministers last June. The law came into force on 01 January, 2021. Minister Al-Khorayef said that to establish a mining law that would unlock this potential and enable new investment for the next phase of mining sector growth, the government undertook a comprehensive process of consultation with global experts in mining legislation and carefully studied some of the world's most successful mining jurisdictions. "We wanted to ensure the Mining Investment Law would not only enhance governance of the sector, improve transparency, and increase investor confidence, but it was a priority for us to achieve growth sus...