NESPAK Secures $12.5 Million Contract for NEOM Project in Saudi Arabia

Lahore Oct 02, 2023- In a historic success, NESPAK was granted a large contract for $12.5 million for Saudi Arabia’s ambitious NEOM plan. This significant milestone demonstrates NESPAK’s technological acumen as well as its ongoing dedication to engineering and construction excellence.

NEOM, located in Saudi Arabia’s northwestern area, is poised to become a huge economic zone capable of accommodating millions in the future years. With a projected expenditure of more than $500 billion, NEOM embodies Saudi Arabia’s goal of architectural innovation and global ambition on a grand scale.

This initiative is important to Saudi Crown Prince Mohammed bin Salman’s Vision 2030, a strategy framework aiming at diversifying the country’s economy beyond its traditional reliance on oil. Notably, NEOM will house “The Line,” a groundbreaking zero-carbon metropolis spanning 170 kilometers. This metropolis is expected to accommodate a million people in carbon-positive urban projects powered exclusively by renewable energy.

NESPAK’s Vice President of Business Development confirmed the agreement to provide construction management services to NEOM’s energy sector, with a focus on Extra High Voltage (EHV), High Voltage (HV), and High-Voltage Direct Current (HVDC) projects in NEOM Bay, NEOM Mountain, and NEOM Phase II. Work on this big project is set to begin shortly.

NEOM’s ambitious plans include a floating industrial complex, a worldwide trading hub, elegant tourist resorts, and an advanced linear metropolis powered only by sustainable renewable energy sources.

NESPAK has established itself as a premier engineering business in the Middle East, with substantial presences in the United Arab Emirates (UAE), Qatar, Nigeria, Yemen, and Iraq. In 1978, NESPAK entered Saudi Arabia on its own, forming a joint venture with the Ar-Riyadh Development Authority. According to its website, it has established a footprint throughout the years by cooperating with major Saudi firms, landing 126 projects worth an astonishing $22 billion.