Independent journal on economy and transport policy
06:18 GMT+1
This page has been automatically translated by Original news
LOGISTICS
A joint venture between DSV and NEOM involving an investment of ten billion dollars
It will provide logistics services to the creation of a smart city in the northeast of Saudi Arabia
Copenaghen/Riyad
October 24, 2023
Danish logistics group DSV has announced the establishment of
a ten-billion-dollar joint venture with the
NEOM which will be aimed at providing logistics services
to the NEOM project for the creation of a smart city in the north-east
Saudi Arabia. NEOM will own 51% of the joint venture
and DSV 49%. The two parties have announced that the joint venture will be
expected to be active in the second quarter of next year and
believes that the business plan will include an investment in
total of ten billion dollars, of which five billion
by the end of 2031, investments that NEOM and DSV commit to
in proportion to their respective holdings.
"NEOM - underlined the CEO of the
Danish group, Jens Bjørn Andersen - is one of the
largest and most complex projects in the world and offers DSV
the unique opportunity to support a development that is
at the forefront of innovation, technology and transformation
digital. DSV already has a strong presence in Saudi Arabia and
This represents a significant opportunity for us to
growth in the region'.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
Danish logistics group DSV has announced the establishment of
a ten-billion-dollar joint venture with the
NEOM which will be aimed at providing logistics services
to the NEOM project for the creation of a smart city in the north-east
Saudi Arabia. NEOM will own 51% of the joint venture
and DSV 49%. The two parties have announced that the joint venture will be
expected to be active in the second quarter of next year and
believes that the business plan will include an investment in
total of ten billion dollars, of which five billion
by the end of 2031, investments that NEOM and DSV commit to
in proportion to their respective holdings.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
