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AECOM awarded project management consultancy services contract for Saudi Arabia’s NEOM International Airport
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Rhea-AI Summary
AECOM (NYSE: ACM) has secured a multi-year contract for project management consultancy services for the NEOM International Airport (NIA) in northwestern Saudi Arabia. This contract encompasses masterplanning, design, construction, testing, commissioning, and operational readiness. Lara Poloni, AECOM's president, expressed enthusiasm about contributing to the transformative NEOM project aimed at enhancing global connectivity. CEO Hamed Zaghw emphasized this contract's significance in affirming AECOM's leadership in the region and its alignment with Saudi Arabia’s Vision 2030. AECOM reported $13.1 billion in revenue for fiscal year 2022.
Positive
Awarded multi-year contract for NEOM International Airport, boosting project portfolio.
Enhances AECOM's presence and credibility in the Middle East infrastructure market.
Aligned with Saudi Arabia’s Vision 2030, indicating potential for future growth.
Negative
None.
AECOM to provide project management for masterplanning, design and construction services for the new NEOM International Airport
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today that it has been awarded a multi-year contract to provide project management consultancy (PMC) services for NEOM International Airport (NIA), in the northwestern region of Saudi Arabia.
AECOM’s scope will include project management for masterplanning, design and construction services, through to testing, commissioning, operational readiness, activation and transition (ORAT).
“We are very pleased to be part of this innovative NEOM project, which is set to transform travel between NEOM and the world,” said Lara Poloni, AECOM’s president. “Our track record delivering large scale infrastructure projects in the region, as well as our mobilized global aviation resources and project management experts will help ensure the successful delivery of NIA.”
“We are delighted that AECOM will be adding another chapter to its relationship with NEOM,” said Hamed Zaghw, chief executive of AECOM'sMiddle East and Africa region. “This contract is a testament to our leadership position in the region and to our continuous commitment to NEOM and the goals of Saudi Arabia’s Vision 2030.”
About AECOM AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.1 billion in fiscal year 2022. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the expected benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas construction businesses, including the risk that any contingent purchase price adjustments from those transactions could be unfavorable and result in lower aggregate cash proceeds and any future proceeds owed to us under those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
