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On June 19, the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, announced the creation of a wholly-owned subsidiary, ERC, tasked with the construction and operation of the facilities for the Riyadh Expo 2030. PIF emphasized that ERC will not only oversee the comprehensive planning of this grand event but also manage its long-term operations and resource transformation post-exhibition. Additionally, ERC will collaborate with private sector entities both domestically and internationally to achieve these goals. Notably, Talal H. AlMarri, a former executive at Saudi Aramco, has been appointed as ERC's CEO. Saudi Arabia has pledged a total investment of $7.8 billion to host the Expo, anticipating the attraction of over 40 million visitors. The Expo site, situated in the northern part of Riyadh, spans an impressive 6 million square meters.
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