NEOM selects U.S. construction leader Bechtel to accelerate primary infrastructure development for its Cognitive Cities

NEOM,Saudi Arabia,Aug. 10,2020 -- NEOM Co. has awarded a contract to U.S.-based Bechtel for executive project management work on the development of the primary,base infrastructure for NEOM as the Giga-project advances work to create the world's leading destination to attract talent and investment.

NEOM,a beacon for the future of urban living,selected Bechtel to oversee and create resource-efficient utilities and a highly advanced transport system to connect NEOM's cognitive cities. Integrating sustainable land use,intelligent urban design and multi-modal mobility,NEOM will deliver a community of exceptional liveability. Work will include simultaneous construction in multiple locations requiring extraordinary engineering solutions in challenging terrain.

NEOM's next generation cognitive cities will support its cutting-edge urban environments,improving the lives of residents and businesses far beyond the capabilities of today's smart cities. NEOM's infrastructure will utilize AI,robotics,and human-machine fusion to deliver greater predictive intelligence and enable faster decision making acrossall NEOM sectors.

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 & Chief Executive Officer,Brendan Bechtel said: "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."

Bechtel has deep experience of working in the Kingdom having been involved in many other high-profile Saudi projects,including Jubail Industrial City and the Riyadh metro. In its role as Executive Project Manager,Bechtel will draw on over 120 years of industry experience to deliver a lasting positive impact in NEOM.

NEOM will be home to an economy and society oriented to the future with a technologically advanced,sustainable infrastructure powered by 100% renewable energy to support truly liveable cities. NEOM has accelerated work this year in many areas including a contract with Saudi telecom giant,stc,for the establishment of a 5G network infrastructure that will accelerate NEOM's digital ambitions. It also signed a $5-billion partnership with US-based Air Products and Saudi Acwa Power to develop the world's largest green hydrogen and green ammonia plant to be operational in 2025.

About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability,creating thriving businesses,and reinventing environmental conservation.

NEOM will be the home and workplace to more than a million residents from around the world. It will include hyperconnected,cognitive towns and cities,ports and enterprise zones,research centers,sports and entertainment venues,and tourist destinations. As a hub for innovation,entrepreneurs,business leaders and companies will come to research,incubate and commercialize new technologies and enterprises in ground-breaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration,risk-taking and diversity - all supported by a progressive law compatible with international norms and conducive to economic growth.

For further information visit www.neom.com.

About Bechtel

Bechtel is a trusted engineering,construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes,we align our capabilities to our customers' objectives to create a lasting positive impact.Since 1898,we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs,growneconomies,improved the resiliency of the world's infrastructure,increased access to energy,resources,and vital services,and made the world a safer,cleaner place.

Bechtel serves the Infrastructure; Nuclear,Security & Environmental; Oil,Gas & Chemicals; and Mining & Metals markets. Our services span from initial planning and investment,through start-up and operations.www.bechtel.com