NEOM Announces $10 Billion Logistics Partnership with Denmark’s DSV
NEOM, the visionary project in Saudi Arabia, has partnered with DSV in a monumental $10 billion logistics joint venture. This strategic alliance is designed to support NEOM’s ambitious projects, leading to the creation of an estimated 20,000 job opportunities.
NEOM, situated in Saudi Arabia, is set to transform the logistics landscape through this exclusive partnership with DSV. The collaboration’s primary focus is on providing end-to-end supply chain management, infrastructure development, investments in transport and logistics assets, and the efficient transport and delivery of goods within NEOM’s vast ecosystem.
Under the agreement, NEOM will hold a majority stake of 51%, with DSV securing the remaining 49% of the joint venture. This partnership is a testament to NEOM’s vision and the private sector’s confidence in its journey.
Driving Economic Growth and Job Creation
NEOM foresees a significant demand for construction logistics until December 31, 2031, with sustained growth in non-construction logistics beyond that period. This venture is not only set to reshape the logistics landscape but is expected to have a positive impact on the Saudi economy. Through infrastructure development and other related activities, it is poised to create more than 20,000 job opportunities.
Nadhmi Al-Nasr, CEO of NEOM, expressed his excitement about the partnership, stating, “It’s a living example of Saudi Vision 2030 in action, fostering job creation and building a future-leaning economy.”
Jens Bjørn Andersen, Group CEO of DSV, emphasized the unique opportunity this project presents, given NEOM’s innovation, technology, and digital transformation focus. This partnership is a significant growth opportunity for DSV, a company already well-established in Saudi Arabia.
Embracing Innovation and Sustainability
NEOM and DSV share a commitment to driving innovation in the logistics sector. A portion of the joint venture’s revenues will be allocated to foster the development of groundbreaking technologies and the commercialization of new sustainable, next-generation logistics solutions. This vision extends further with the establishment of a dedicated innovation center at NEOM.
This new joint venture is a remarkable milestone, showcasing NEOM’s dedication to revolutionizing Saudi Arabia’s logistics sector. It also paves the way for pioneering sustainable logistics solutions, marking a new chapter in NEOM’s journey toward realizing Vision 2030.
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