By Elias Al Helou
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Home Lifestyle Hospitality & Tourism Saudi Arabia’s NEOM awarded $27.7 million cement supply deal with Al Jouf, Webuild

Saudi Arabia’s NEOM awarded $27.7 million cement supply deal with Al Jouf, Webuild

The contract duration is 41 months from the date of signing and is subject to increased quantities
Saudi Arabia’s NEOM awarded $27.7 million cement supply deal with Al Jouf, Webuild
NEOM announced in May that it will build a new marina and community called Jaumur on the Gulf of Aqaba. (Photo Credit: NEOM)

Published: Thu 25 Jul 2024, 12:35 PM

NEOM, Saudi Arabia’s ambitious $500 billion giga-project, has secured a significant cement deal worth SAR104 million ($27.72 million). Al Jouf Cement Co., a Saudi company, has officially entered into an agreement with Italy’s Webuild SpA to supply cement for various developments within the NEOM project.

According to the statement released on Saudi stock exchange Tadawul, the contract duration is 41 months from the date of signing and is subject to increased quantities. Al Jouf Cement expects this agreement to have a positive impact on its financial statements starting from the third quarter of 2023 and continuing through the end of the contract period.

NEOM’s visionary transformation of the Red Sea coastline

NEOM, located at the northern tip of the Red Sea, east of Egypt and south of Jordan, is set to host several groundbreaking projects. One of the most notable is The Line, a mirrored structure that stretches 170 kilometers, 500 meters above the sea and 200 meters wide.

Another key project within NEOM is Trojena, a mountainous area spanning nearly 60 square kilometers with elevations ranging from 1,500 to 2,600 meters. Earlier this month, NEOM and American hospitality firm Equinox Hotels announced plans to open a resort on the coast of the Gulf of Aqaba as part of the recently unveiled Magna development.

Read more: New luxury resort slated to debut in Saudi giga-project NEOM

Upcoming NEOM developments

Additionally, NEOM announced in May that it will build a new marina and community called Jaumur on the Gulf of Aqaba. This exclusive residential community will be planned around a marina promenade for more than 6,000 residents, featuring 500 marina apartments and around 700 luxury villas.

Furthermore, Emirates Steel, part of the Emirates Steel Arkan Group, one of the largest publicly traded steel and building materials manufacturers in the region, has partnered with Eversendai, a global powerhouse in steel construction, to build the NEOM Trojena Ski Village.

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