DSV and Saudi Arabia’s ‘NEOM’ special economic zone have announced a $10bn logistics joint venture (JV) to support the development of NEOM projects. The JV will focus on providing ground, sea and air logistics services for NEOM in the coming years. 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.
NEOM envisions unparalleled demand for construction logistics to the end of 2031, with sustained growth in non-construction logistics thereafter.
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 is one of the largest and most complex projects in the world. It provides a unique opportunity for DSV to support a development that is at the forefront of innovation, technology and digital transformation. DSV already has a strong presence in Saudi Arabia, and this is a significant growth opportunity for us in the region and we look forward to working with NEOM Company and bringing our logistics capabilities to the table." - Jens Bjørn Andersen, DSV Group chief executive
A dedicated innovation centre will also be established at NEOM’s clean and advanced manufacturing hub, OXAGON.
The JV builds on NEOM’s commitment to revolutionising Saudi Arabia’s logistics sector as the country works towards its Vision 2030.
Read the full story at Air Cargo News