ERC will now manage Expo 2030: The Public Investment Fund (PIF) launched the Expo 2030 Riyadh Company (ERC) to manage the construction and operation of the Expo 2030 facilities, according to a statement. The new company is “swiftly launching operations” and will partner with local and international private sector firms for construction, cultural programming, and event management.

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Talal Al Marri (LinkedIn) will serve as the company’s CEO, according to a press release. Al Marri held several senior positions at Aramco, including President and CEO of Aramco Europe.

Big impact: Expo 2030 is forecast to contribute approximately USD 64 bn to the Kingdom’s GDP during its development and another USD 5.6 bn while operational, according to the statement. The site will also feature optional permanent pavilions for participating countries.

REMEMBER- The Expo 2030 master plan details a 6 mn sqm site located around Wadi Al Sulai, north of Riyadh, with 2 mn sqm of gated area for exhibitions and activities. The event is scheduled to take place from 1 October 2030 to 31 March 2031 and is projected to attract more than 40 mn visits.

Getting ready: Riyadh has over 426k new hotel rooms planned ahead of the event, targeting USD 80 bn in private tourism investment by 2030. Meanwhile, National air carrier Saudia plans to double its fleet ahead of the event by adding 191 aircraft, while Humain partnered with Cisco to develop AI-driven digital infrastructure.

ALSO FROM THE PIF-

PIF-backed AI startup Humain established a new division for advertising, video games, and film called Humain Create, in partnership with US-based generative AI startup Luma AI, according to a post on X.

The details: Announced at the Cannes Lions International Festival of Creativity on Thursday, the new division will provide Luma AI it with computing resources to deliver AI software for the production of photorealistic images and videos for game developers, marketers, and beyond. Financial details of the partnership were not disclosed.

What they said: The project will deliver “Hollywood quality video and interactive experiences at incredible speeds,” Bloomberg quoted Luma CEO Amit Jaim as saying.

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