Islamabad(Urdu Times) : Webuild confirms progress on NEOM projects amid leadership change
Webuild confirms progress on NEOM projects amid leadership change
By Rehan Khan
ISLAMABAD: Italy’s leading construction firm, Webuild, has confirmed that its activities related to Saudi Arabia’s ambitious NEOM project are progressing according to plan, despite the recent resignation of the mega project’s long-time chief executive.
According to a report, Webuild reassured stakeholders, stating, “Webuild has no evidence of changes in the activity plan initially set for the projects it is implementing, nor has it recorded any delay in payments.”
NEOM, a ground-breaking urban and industrial development along the Red Sea, spans an area nearly the size of Belgium. Envisioned as a smart city housing nine million residents, it forms a critical pillar of Saudi Arabia’s Vision 2030 initiative, which intends to diversify the Kingdom’s economy beyond oil dependency.
The unexpected departure of NEOM’s CEO last week, without an official explanation, has stirred speculation about potential adjustments to the project’s scale and ambitions.
Webuild, a company with a six-decade presence in Saudi Arabia, is currently working on a system of three dams designed to supply water to an artificial lake in NEOM’s Trojena area. Additionally, the firm is constructing a high-speed railway, known as the Connector, which will integrate the futuristic city’s infrastructure.
