“NEOM is one of the largest and most complex projects in the world. It’s a living example of Saudi Vision 2030 in action, fostering job creation and building a future-leaning economy.” The economic benefit to this partnership will not only provide tens of thousands of jobs, but it will also enable growth to capture local and regional market share. Working alongside one of the world’s leading logistics companies, the joint venture with DSV will build on expertise and know-how to drive innovation and sustainability throughout the logistics value chain. “The projected demand in both construction and non-construction logistics will make NEOM one of the largest customers in the world, and this partnership allows NEOM to create value from its demand. In addition to its impact on the logistics landscape, the venture is expected to boost the Saudi economy, through infrastructure development and creating more than 20,000 job opportunities. NEOM envisions unparalleled demand for construction logistics through to 31 December 2031, with sustained growth in non-construction logistics thereafter. NEOM will hold 51% of the joint venture with DSV holding the remaining 49%. Under the agreement, the joint venture will provide end-to-end supply chain management, development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM. The partnership will focus on providing logistics services for NEOM in the coming years. NEOM and DSV announce a USD 10 billion exclusive logistics joint venture to support the development of the ambitious projects taking shape in NEOM, Saudi Arabia. The joint venture will drive innovation leveraging existing R&D efforts and further push commercialisation of new solutions and technologies.The partnership will focus on the logistics services need for NEOM, with unprecedented demand growing the joint venture and adding value to the local economy through services and jobs.Multi-billion dollar leading logistics joint venture to provide a full suite of ground, sea and air logistics services.
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