Italy’s construction group Webuild reportedly said its activities connected to Saudi Arabia’s NEOM are continuing in line with the plan, after the infrastructure mega project’s long-time chief executive left the role last week.
“Webuild has no evidence of changes in the activity plan initially set for the projects it is implementing, nor has it recorded any delay in payments,” the company told Reuters on Tuesday.
NEOM, a Red Sea urban and industrial development nearly the size of Belgium due to house nearly nine million people, is central to Saudi Arabia’s Vision 2030 plan to create new engines of economic growth beyond oil.
However, the recent departure of its CEO without giving a reason has sparked discussion about the possibility of scaling back ambitions for NEOM.
Webuild, which has been active in Saudi Arabia for 60 years, is building a system of three dams that will feed an artificial lake in the Trojena area and a high-speed railway called the Connector.
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