Global Bechtel to Establish Transport System Connecting NEOM Cities

NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)
NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)
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Global Bechtel to Establish Transport System Connecting NEOM Cities

NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)
NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)

Saudi Arabia’s NEOM Co. has awarded a contract to US-based Bechtel for executive project management work on the development of the base infrastructure for NEOM cities, as the Saudi Vision 2030 giga-project advances work to create the world’s leading destination to attract talent and investment.

Bechtel was selected to oversee and create resource-efficient utilities and a highly advanced transport system to connect NEOM’s cognitive cities.

Commenting on the award, NEOM CEO Nadhmi Al Nasr said: “Built from the ground up as a model of future living, NEOM will be one of the largest, most sophisticated and advanced infrastructure projects ever undertaken globally, and we are delighted to have a major industry leader like Bechtel on board to work with us to realize our ambitions.”

Bechtel Chairman & CEO, Brendan Bechtel said in a statement: “NEOM is one of the most complex projects in living memory and we are proud to be part of it. The vision for a futuristic, innovative and sustainable ecosystem is unique and bold, and we believe NEOM will change the way new cities are developed by future generations. We have helped our customers shape the Kingdom’s history with many key projects and we are honored to be a partner in building its future.”

Last July, NEOM awarded a contract to develop the digital infrastructure in its cities, through building and operating a 5G network with the Saudi Telecom Group.

NEOM has also entered into a partnership with Air Products and ACWA Power, worth $5 billion, to establish the world’s largest project to produce hydrogen and ammonia in a clean and environmentally friendly manner, which will be ready for operation in 2025.

Cognitive cities are technically enhanced and digitally sustainable societies that benefit from data in a greater proportion than smart cities, in order to provide exceptional livelihoods that improve the quality of life of residents and support business sectors.



Saudi Arabia's ACWA Power to Buy Engie’s Share in Kuwait and Bahrain Assets 

The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)
The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)
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Saudi Arabia's ACWA Power to Buy Engie’s Share in Kuwait and Bahrain Assets 

The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)
The logo of French gas and power group Engie is seen on the company tower at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. (Reuters)

Saudi Arabia's ACWA Power plans to buy stakes in assets in Kuwait and Bahrain worth $693 million from French utility developer ENGIE, according to a joint statement on Wednesday.

The share purchase agreement covers operating capacities of 4.61 GW of gas-fired power generation and 1.11 million cubic meters per day (m3/day) of water desalination facilities, the companies said in a statement.

It also includes the related operations and maintenance companies in Kuwait and Bahrain, it added.

Completion of the transaction is subject to customary regulatory and other stakeholder approvals.