NEOM Awards Bechtel Executive Program Management Contract
Two U.S.-based construction companies, Bechtel and AECOM, have been chosen as consultants for a key role in Saudi Arabia’s $500 billion NEOM megaproject. NEOM, a futuristic smart city run 100% on renewable energy, is estimated to contribute at least $100 billion to the country’s Gross Domestic Product by 2030 and will serve as an independent-governed hub for innovation with its own laws, regulations, and taxes. Bechtel was chosen as the megaproject’s new executive program manager, serving as a promising sign that the project is moving out of its planning phase into implementation. A new airport just outside city limits has already been constructed, with a housing development for 10,000 current and future workers already underway. Bechtel’s appointment follows NEOM’s addition of another U.S.-based company, Air Products and Chemicals, to the megaproject.