SoftBank Group Corp will work with Saudi Arabia on the development of "Neom", a new business and industrial city announced on Tuesday.

Softbank Group CEO Masayoshi Son said at an investment conference in Riyadh on Tuesday that Saudi's Crown Prince Mohammed bin Salman had asked him to get involved.

"I think Neom is a fantastic opportunity," Son said, adding that the SoftBank Vision Fund would invest in Saudi Electricity Co (SEC).

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