NEOM and DSV forge $10 bn logistics venture for Saudi Arabia's future
WAREHOUSING & LOGISTICS

NEOM and DSV forge $10 bn logistics venture for Saudi Arabia's future

NEOM and DSV have announced an exclusive logistics joint venture valued at US$10 billion, aimed at supporting the ambitious projects underway in NEOM, Saudi Arabia. The collaboration will primarily focus on delivering comprehensive logistics services to NEOM in the years ahead.

As per the agreement, the joint venture will offer end-to-end supply chain management, along with investments in transport and logistics assets and infrastructure. Additionally, it will manage the transport and delivery of goods and materials within NEOM. NEOM will maintain a majority stake of 51% in the joint venture, while DSV will hold the remaining 49%.

Foreseeing significant demand for construction logistics until December 31, 2031, followed by sustained growth in non-construction logistics, NEOM anticipates a transformative impact on the logistics landscape. Beyond logistics, the venture is expected to contribute to the Saudi economy by fostering infrastructure development and generating over 20,000 job opportunities.

Nadhmi Al-Nasr, CEO of NEOM, expressed confidence in the partnership, stating that it reflects both NEOM's vision and the private sector's trust in joining the transformative journey. The collaboration with DSV positions NEOM to capitalise on the projected demand, making it a major global customer. Al-Nasr emphasised the partnership's potential to drive innovation and sustainability across the logistics value chain, aligning with Saudi Vision 2030's goals.

Jens Bjrn Andersen, Group CEO of DSV, highlighted NEOM as a unique opportunity for the company to support a groundbreaking project at the forefront of innovation, technology, and digital transformation. With an existing strong presence in Saudi Arabia, the joint venture signifies significant growth prospects for DSV in the region.

The commitment to innovation is evident in the allocation of a portion of the joint venture's revenues for the development of groundbreaking technologies and sustainable next-generation logistics solutions. NEOM and DSV plan to establish a dedicated innovation center at NEOM to further drive advancements in the field.

This joint venture marks a substantial milestone in NEOM's dedication to revolutionising Saudi Arabia's logistics sector, heralding a new era of sustainable logistics solutions and contributing to the realisation of Vision 2030.

NEOM and DSV have announced an exclusive logistics joint venture valued at US$10 billion, aimed at supporting the ambitious projects underway in NEOM, Saudi Arabia. The collaboration will primarily focus on delivering comprehensive logistics services to NEOM in the years ahead. As per the agreement, the joint venture will offer end-to-end supply chain management, along with investments in transport and logistics assets and infrastructure. Additionally, it will manage the transport and delivery of goods and materials within NEOM. NEOM will maintain a majority stake of 51% in the joint venture, while DSV will hold the remaining 49%. Foreseeing significant demand for construction logistics until December 31, 2031, followed by sustained growth in non-construction logistics, NEOM anticipates a transformative impact on the logistics landscape. Beyond logistics, the venture is expected to contribute to the Saudi economy by fostering infrastructure development and generating over 20,000 job opportunities. Nadhmi Al-Nasr, CEO of NEOM, expressed confidence in the partnership, stating that it reflects both NEOM's vision and the private sector's trust in joining the transformative journey. The collaboration with DSV positions NEOM to capitalise on the projected demand, making it a major global customer. Al-Nasr emphasised the partnership's potential to drive innovation and sustainability across the logistics value chain, aligning with Saudi Vision 2030's goals. Jens Bjrn Andersen, Group CEO of DSV, highlighted NEOM as a unique opportunity for the company to support a groundbreaking project at the forefront of innovation, technology, and digital transformation. With an existing strong presence in Saudi Arabia, the joint venture signifies significant growth prospects for DSV in the region. The commitment to innovation is evident in the allocation of a portion of the joint venture's revenues for the development of groundbreaking technologies and sustainable next-generation logistics solutions. NEOM and DSV plan to establish a dedicated innovation center at NEOM to further drive advancements in the field. This joint venture marks a substantial milestone in NEOM's dedication to revolutionising Saudi Arabia's logistics sector, heralding a new era of sustainable logistics solutions and contributing to the realisation of Vision 2030.

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