NEOM & DSV's $10 Billion Game-Changer
Saudi Arabia’s NEOM, the company behind some of the worlds most stunning futuristic constructions has collaborated with global logistics leader, DSV, on a $10 billion exclusive logistics venture. This partnership aims to offer comprehensive ground, sea, and air logistics services for NEOM’s ambitious initiatives.
The joint venture will manage the entire supply chain, including investments in logistics infrastructure, transportation, and delivery within NEOM. NEOM will have a 51% stake, while DSV will own the remaining 49%.
The venture anticipates a high demand for construction logistics until December 31, 2031, followed by consistent growth in non-construction logistics. This collaboration is poised to enhance the Saudi economy by developing infrastructure and potentially offering over 20,000 jobs.
NEOM’s CEO, Nadhmi Al-Nasr, emphasized the partnership’s significance, stating it mirrors NEOM’s vision and the private sector’s confidence in its realization. He added, “Collaborating with DSV, a top logistics entity, will amplify expertise, promote innovation, and magnify the economic benefits, encapsulating the essence of Saudi Vision 2030.”
DSV’s Group CEO, Jens Bjørn Andersen, highlighted NEOM’s uniqueness, mentioning it as a golden opportunity for DSV to bolster its presence in Saudi Arabia and support a project that’s pioneering in innovation and digital transformation.
Furthermore, both NEOM and DSV are dedicated to fostering innovation. Part of their revenues will be reinvested in groundbreaking technologies, and an innovation center will be established in NEOM. This endeavor not only underscores NEOM’s dedication to overhauling Saudi Arabia’s logistics domain but also sets the stage for sustainable logistics solutions, aligning with Vision 2030’s objectives. See full press release here.
