Egyptian-based Company Awarded an EPC Contract on the Construction of One of the World’s Largest Ports

Egyptian-based Hassan Allam Holdings has announced that its subsidiary has been awarded an EPC contract to construct one of the world’s largest ports. A partnership between the Saudi unit of Egypt’s Hassan Allam Construction Saudi, Riyadh-based El Seif Engineering Contracting, and China Harbour Engineering Arabia has won a construction contract for the Port of NEOM in Oxagon. The project scope includes an engineering, procurement, and construction (EPC) contract for developing Port of NEOM’s container terminal 1. It also includes construction of the marine services area (MSA), Hassan Allam Holding said in a statement on Sunday. The port of NEOM is a crucial maritime hub on the Red Sea, offering many services, including containers, general cargo, bulk, and roll-on/roll-off ferry services. Its strategic location provides global and regional connectivity, thus bolstering Saudi Arabia’s maritime and economic vision.

The Significance of the Construction of One of the World’s Largest Ports

The construction of one of the world’s largest ports in Saudi poses a significant contribution as a major maritime hub in the Red Sea. Furthermore, the port will provide container, general cargo, bulk, and roll-on/roll-off ferry services. Additionally, the port of NEOM’s strategic location provides global and regional connectivity to support the Kingdom’s maritime and economic ambitions in line with Vision 2030. Saudi Arabia’s Vision 2030 targets economic diversification, tourism growth, and innovation. Additionally, the port plays a crucial role in importing the goods and materials necessary for NEOM’s construction phase.

NEOM is a smart urban area built by Saudi Arabia in Tabuk. The construction of one of the world’s largest ports in the Red Sea includes astounding hallmarks, such as the integration of AI to operate the port. The port leverages automation, artificial intelligence, and Internet of Things (IoT) applications to boost productivity and reduce turnaround times, ensuring smooth and seamless services. The port also reduces operational costs while delivering benefits to its clients through advanced data analytics and smart logistics solutions.

The State of Affairs Regarding the Port of NEOM

Saudi Arabia’s Neom allocated an estimated SR4bn ($1bn) design-and-build contract to deliver infrastructure and building works for Terminal 1 of one of the world’s largest ports. Construction and implementation of the project are supposed to commence immediately, with a focused timeline of 2025 in mind. The scope of work also entails the development of a flexible quay, constructing several new buildings, and infrastructure works. Contractors will be required to appoint a consultant for design execution.

Jacobs is the lead design consultant for the port project. “The original SR12bn ($3.24bn) project went through several phases of de-scoping, where the client focussed on bringing efficiency and speeding up the delivery of the most critical elements of the project,” sources familiar with the scheme noted. The packages are the latest to be tendered for the port. In October, Neom selected the joint venture of Belgium’s Deme and Greece’s Archirodon for the estimated $1bn contract to complete the next phase of the Duba port expansion at Oxagon. The completion of one of the world’s largest ports is one that is anticipated by many, as it shows immense promise.