No hiccups on NEOM activities after project CEO's exit, says Webuild
RIYADH, November 21, 2024
Italy's construction group Webuild said all its activities connected to NEOM are moving as per schedule after the infrastructure mega project's long-time CEO left the role last week, reported Reuters, citing a company release.
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, said the press release from the Italian builder, which has been active in Saudi Arabia for 60 years.
NEOM, a Red Sea urban and industrial development nearly the size of Belgium due to house nearly nine million people, is central to Saudi Arabia's Vision 2030 plan to create new engines of economic growth beyond oil.
However, the recent departure of its CEO without giving a reason has sparked discussion about the possibility of scaling back ambitions for NEOM.
For the NEOM project, Webuild is building a system of three dams that will feed an artificial lake in the Trojena area and a high-speed railway called the Connector.
