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The agreement could see up to $6 million investment with funding offered for up to 15 projects for sustainable water solution development.
The three key pillars focus on youth and diversity, innovation and technology, and policy collaboration.
Sindalah, a luxury island, will have a yacht club, three luxury resorts, a spa, over 50 luxury brands, 86 piers, and will be accessible to all other projects within NEOM.
The agreement's strategy is to expand its global reach and strengthen its position as the LNG export partner in the global energy businesses.
The Union Water and Electricity Company (UWEC) spearheaded the project. It will provide water security to tackle water scarcity.
SWCC's Al Shuaiba Plant 4 is also utilising nanotechnology to extract magnesium and inject it into water, a ground-breaking innovation that is contributing to the company's success.
The 5th phase of the solar park uses photovoltaic solar panels and concentrated solar power (CSP) technologies to provide clean energy to over 270,000 residences in Dubai.
The programme which in the first phase aims to launch multiple projects with a total capacity of 8.85 million m3/day by 2050.
The panel discussion, titled ‘Sustainable Luxury: At What Cost?" highlighted the benefits of decarbonization, waste reduction, and community initiatives for the long-term growth of the industry.
MHI striving to achieve carbon neutrality by 2040 and has been developing a CO2 solutions ecosystem. This agreement can advance MHI’s global CCUS (carbon capture, utilisation, and storage) strategy, positioning them as a leader in the CCUS market.