AECOM secures project management consultancy services contract for Saudi Arabia’s NEOM Bay mega-project
LOS ANGELES (July 9, 2019) – AECOM (NYSE:ACM), a premier, fully integrated global infrastructure firm, today announced that it has been awarded a multi-year contract to provide project management consultancy (PMC) services for Phase 1 of NEOM Bay, a US$500 billion mega-project being developed in northwestern Saudi Arabia. AECOM’s scope will include project management, contract administration, technical and environmental support services, and site supervision over the entire design and construction phases of the project.
“We are very pleased to be part of this ambitious new project. Our expertise delivering leading project management services in the Middle East will help ensure the success of NEOM Bay Phase 1,” said Michael S. Burke, AECOM’s chairman and chief executive officer. “We have already begun mobilizing our global experts to support development of this new city and tourist destination that holds such immense potential in the Kingdom.’’
Located in the northwestern part of Saudi Arabia, at the intersection with Jordan and Egypt, NEOM Bay will be a special economic zone and diverse society offering world-class education, healthcare and culture for a new way of living. Once complete, NEOM Bay Phase 1 will span a 45-square kilometer area and be comprised of several thousand residential units, leisure, retail, commercial, public and entertainment facilities with supporting infrastructure and utilities.
“It’s exciting that AECOM has been selected to drive the delivery of the NEOM project,” said Lara Poloni, AECOM Europe, Middle East & Africa’s chief executive. “The opportunity to work on such a significant element of the Saudi Vision 2030 program is testament to our integrated offerings and local knowledge, as well as track record of delivering large-scale infrastructure projects that enable economic diversification in the Kingdom.”
AECOM (NYSE:ACM) is built to deliver a better world. We design, build, finance and operate critical infrastructure assets for governments, businesses and organizations. As a fully integrated firm, we connect knowledge and experience across our global network of experts to help clients solve their most complex challenges. From high-performance buildings and infrastructure, to resilient communities and environments, to stable and secure nations, our work is transformative, differentiated and vital. A Fortune 500 firm, AECOM had revenue of approximately $20.2 billion during fiscal year 2018. See how we deliver what others can only imagine at aecom.com and @AECOM.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including the future term, price, performance and financial impact of the NEOM Bay project management consultancy agreement as well as other future business and economic conditions. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important risk factors that could cause actual results to differ materially from our forward-looking statements are set forth in AECOM’s periodic report on Form 10-Q for the quarter ended March 31, 2019, and other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statements.
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