Neom and DSV International Transport and logistics company announced today, Tuesday, a joint and exclusive logistics project worth 10 billion US dollars; aimed at supporting the development of ambitious projects under construction in NEOM, by providing advanced land, sea and Air Logistics Services, meeting the needs and requirements of Neom and its multiple projects in the coming years.
Details in the business broadcast

The joint venture will provide integrated management of services along the supply chain, while developing and attracting investments in the transport sector, logistics, infrastructure, as well as transportation services, delivery of goods and materials within NEOM; which in turn will own 51% of the joint venture, while "DSV" will own 49% of the project.

It is expected that NEOM will witness an increasing demand for logistics services for the construction sector until December 31, 2031, and this will be followed by an increase in demand for non-construction logistics services, and the joint venture seeks to support the economy in the kingdom by contributing to the development of infrastructure, as well as creating more than 20 thousand jobs.

NEOM CEO Engineer Nazmi Al-Nasr explained that the expected demand for construction and non-construction logistics services will make NEOM one of the largest customers for this sector in the world, which will enable it to create added value for the local economy through this important partnership .

"This partnership not only shows the reality of Neom and its progress at all levels, but also confirms how confident the private sector is in its vision and projects,"he said.

"By working alongside one of the world's leading logistics companies, the joint venture with DSV will leverage quality expertise and advanced research to drive innovation and promote sustainability across all stages of the logistics value chain, "added the CEO.

Al-Nasr stressed that the economic benefit of this partnership will not be limited to providing tens of thousands of jobs, but will contribute to enhancing economic growth by acquiring a share of the local and regional market, pointing out that its impact will form a living model to achieve the goals of the kingdom's Vision 2030 of creating jobs and building an economy that meets the future trends.

Jens Bjorn Andersen, CEO of the DSV group, said: "NEOM is one of the largest projects in the world, and it will provide an opportunity for us at DSV to contribute to the development of a project that drives innovation and technical progress and drives digital transformation.NEOM's creation of a sustainable living scheme is in line with DSV's ambitions and there is a strong cooperation and harmony between us and NEOM.

As part of Neom and DSV's commitment to drive innovation, the two sides will allocate part of the proceeds from the joint venture to develop leading technologies and commercialize next-generation sustainable logistics solutions, and cooperation between the two sides will also include the establishment of a dedicated Innovation Center in NEOM.

The new project is a milestone that embodies the role played by NEOM to bring about a qualitative transformation in the logistics services sector in the kingdom, paving the way towards the innovation of sustainable and pioneering logistics solutions, which represents a new stage in NEOM's journey towards achieving the goals of the kingdom's Vision 2030.