TOKYO — SoftBank plans to invest as much as $25 billion in Saudi Arabia over the next three to four years as the Japanese company run by Masayoshi Son deepens investment ties with the kingdom, according to people familiar with the matter, Bloomberg News reports.

SoftBank aims to deploy up to $15 billion in a new city called NEOM to be built on the Red Sea coast, the people said, asking not to be identified as the information is private. The Japanese company’s Vision Fund also plans investments of as much as $10 billion in Saudi Electricity Co. as part of efforts to diversify the utility into renewables and solar energy, the people said. SoftBank also will have some of its portfolio companies open offices in NEOM, they said. — Bloomberg