NEOM Hosts Global Contractor Forum to Shape Future Projects

With the help of the companies that participated in the forum, the workforce is anticipated to grow to over 200,000 by next year - SPA
With the help of the companies that participated in the forum, the workforce is anticipated to grow to over 200,000 by next year - SPA
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NEOM Hosts Global Contractor Forum to Shape Future Projects

With the help of the companies that participated in the forum, the workforce is anticipated to grow to over 200,000 by next year - SPA
With the help of the companies that participated in the forum, the workforce is anticipated to grow to over 200,000 by next year - SPA

NEOM, the sustainable development taking shape in the northwest of Saudi Arabia, brought together over 100 of the world’s leading construction companies for a two-day industry forum, SPA reported.

The gathering, held in NEOM, showcased on-the-ground construction progress while highlighting future developments as NEOM advances into the next stage of its vast portfolio of projects.
As NEOM’s projects transition into a new phase of execution, the demand for top-tier construction proficiency is vital to deliver some of the most ambitious development projects the world has ever seen. These bold projects include the 170 km long city, THE LINE, currently being built in modular phases, with the first phase welcoming residents in 2030. The forum also emphasized the importance of innovation within the industry and how traditional construction methods will not meet the scale and scope of NEOM. Additionally, on-the-ground progress was showcased throughout NEOM, including construction progress on THE LINE, the Spine, Oxagon, Trojena, and the NEOM International Airport.
The forum opened with an address by the CEO of NEOM, Nadhmi Al-Nasr, stating: "As we go into our busiest ever phase of development, the scale of opportunities across NEOM is monumental. With projects progressing fast across all parts of the region, we are committed to collaborating with globally renowned contractors to achieve the vision of NEOM".
Attendees benefited from insights into the plans and scope of upcoming opportunities. Additionally, they visited project sites to witness first-hand the construction currently taking place, which is already on a massive scale seldom seen anywhere in the world. The event also included one-on-one meetings during which specific business opportunities were discussed as contractors displayed their services and capabilities.
The forum hosted a mix of firms from Saudi Arabia, along with international firms from Asia, Europe, North America, and North Africa. Construction is currently underway throughout all of NEOM, with a construction workforce of over 140,000. With the help of the companies that participated in the forum, the workforce is anticipated to grow to over 200,000 by next year.



Germany Lowers Gas Security Alert Level as Supply Bottlenecks Ease

German Economy and Energy Minister Katherina Reiche attends a plenary session of the German lower house of parliament, the Bundestag, in Berlin, Germany June 25, 2025. REUTERS/ Nadja Wohlleben/ File Photo
German Economy and Energy Minister Katherina Reiche attends a plenary session of the German lower house of parliament, the Bundestag, in Berlin, Germany June 25, 2025. REUTERS/ Nadja Wohlleben/ File Photo
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Germany Lowers Gas Security Alert Level as Supply Bottlenecks Ease

German Economy and Energy Minister Katherina Reiche attends a plenary session of the German lower house of parliament, the Bundestag, in Berlin, Germany June 25, 2025. REUTERS/ Nadja Wohlleben/ File Photo
German Economy and Energy Minister Katherina Reiche attends a plenary session of the German lower house of parliament, the Bundestag, in Berlin, Germany June 25, 2025. REUTERS/ Nadja Wohlleben/ File Photo

The German government has lowered the gas supply security level to early warning grade from alarm level as supply bottlenecks eased, Economy Minister Katherina Reiche said on Tuesday.

Berlin had declared the alert level in June 2022 following Russia's invasion of Ukraine and a sudden drop in gas imports from Moscow. Germany no longer imports pipeline-based gas from Russia and no Russian liquefied natural gas arrives in its LNG terminals, Reiche said, Reuters reported.

She said Germany's gas supply was secure and the conditions for the alert level according to its emergency plan no longer existed. Reiche added that given the stable situation, it was not necessary for the government to refill the country's gas storage facilities through its trading hub.

The early warning level, the first of three crisis levels, will remain in place for the government to keep a close eye on the supply situation.

"The market is still able to cope with this disruption or demand without the need for non-market-based measures," Reiche told journalists at a news conference in Berlin.

Germany's gas storage levels are around 50% below levels of previous years but storage activity has increased significantly, she said. While gas prices have stabilized at around 34 euros per megawatt hour, this is still twice as high as before the energy crisis stirred by the war in Ukraine.