AECOM will leverage its industry-leading digital capabilities
to deliver the core scope of services and enable collaboration
across global teams
AECOM (NYSE:ACM), the world’s premier infrastructure consulting
firm, has been appointed to design transport and utilities backbone
infrastructure for NEOM, a new model for urbanization and
sustainability located in the northwest region of Saudi Arabia. In
addition to design services, AECOM’s scope will also include
environmental and geotechnical support.
“We are excited to be playing such a pivotal part in delivering
one of the world’s largest and most complex infrastructure
projects,” said Lara Poloni, AECOM’s president. “As the centerpiece
of Saudi Vision 2030, NEOM will become one of the world’s leading
destinations to attract talent and investment and drive economic
change in the Kingdom. Our global multi-disciplinary team of
experts will bring together a diverse set of skills to deliver a
sustainable project that will connect communities and create
thousands of jobs across Saudi Arabia.”
NEOM will support an economy that is oriented to the future.
Providing a new model for urbanization and sustainability, it will
include hyper-connected towns and cities, ports and enterprise
zones, entertainment venues and tourist destinations.
Speaking about the agreement, Brett Smythe, Chief Projects
Officer of NEOM, said: “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. It will be a beacon for future living. We are
pleased to have one of the world’s leaders in AECOM helping to
create the primary and base infrastructure to support our ambitious
vision.”
Ian Laski, AECOM Arabia’s president and chief executive, said:
“We are delighted to have extended our relationship with NEOM, to
which we now provide project management consultancy and
infrastructure design services across this transformational
project,” said “We are fully committed to supporting the goals of
Saudi Vision 2030 and this agreement is testament to our local
presence, global reach and track record of delivering projects that
enable economic diversification in the Kingdom.”
Bill Price, program director at AECOM, said: “In order to
accelerate the delivery of this transformative project, our global
team will be using the latest innovations to deliver a 100% digital
design. Digital tools will play a vital role in the collaborative
approach and stakeholder engagement, with quickly produced
visualizations that are built from live design data that is
geospatial accurate, enabling and unlocking the power of a
data-driven design.”
Digital will play a key role in delivering the core scope of
services within the program requirements, as well as achieving the
vision for technological advancement. The delivery team will adopt
a data-led process, providing information-rich 3D models and
geospatial data. The digital delivery processes will also enable
collaboration across global teams and provide them with the tools
to efficiently design for construction.
This contract builds on AECOM’s appointment in July 2019 to
provide project management consultancy services for phase 1
construction in NEOM.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure
consulting firm, delivering professional services throughout the
project lifecycle – from planning, design and engineering to
program and construction management. We partner with our clients in
the public and private sectors to solve their most complex
challenges and build legacies for generations to come. On projects
spanning transportation, buildings, water, governments, energy and
the environment, our teams are driven by a common purpose to
deliver a better world. AECOM is a Fortune 500 firm and its
Professional Services business had revenue of approximately $13.6
billion in fiscal year 2019. See how we deliver what others can
only imagine at aecom.com and @AECOM.
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 email: media@neom.com or visit
www.neom.com
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, coronavirus impacts, 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; impacts caused by the coronavirus and
the related economic instability and market volatility, including
the reaction of governments to the coronavirus, including any
prolonged period of travel, commercial or other similar
restrictions, the delay in commencement, or temporary or permanent
halting of construction, infrastructure or other projects,
requirements that we remove our employees or personnel from the
field for their protection, and delays or reductions in planned
initiatives by our governmental or commercial clients or potential
clients; losses under fixed-price contracts; limited control over
operations 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; high leverage and potential
inability to service our debt and guarantees; exposure to Brexit;
exposure to political and economic risks in different countries;
currency exchange rate 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 benefits and
costs of the Management Services transaction, including the risk
that the expected benefits of the Management Services transaction
or any contingent purchase price will not be realized within the
expected time frame, in full or at all; the risk that costs of
restructuring transactions and other costs incurred in connection
with the Management Services transaction will exceed our estimates
or otherwise adversely affect our business or operations; 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200915005072/en/
Investor: Will Gabrielski Senior Vice President, Investor
Relations 213.593.8208 William.Gabrielski@aecom.com
Media: Brendan Ranson-Walsh Vice President, Global
Communications & Corporate Responsibility 213.996.2367
Brendan.Ranson-Walsh@aecom.com
AECOM (NYSE:ACM)
Historical Stock Chart
From Mar 2024 to Apr 2024
AECOM (NYSE:ACM)
Historical Stock Chart
From Apr 2023 to Apr 2024