WeBuild, the Italian construction giant, is about to win a contract worth an estimated sar 20 billion (5 billion of dollars) to build 3 dams that they will create a artificial lake in the center of Trojena project of Neom, the largest smart city in the world which should be built in 2025 in the province of Tabuk, Saudi Arabia. The Trojena project also involves the construction of a tourist village with resort and ski facilities linked to the Asian Winter Games in 2029.
The news was reported by the Meed (Middle East business intelligence) website. Equita comments on the operation by saying that "it would be a significant order, since it represents a book-to-bill of 0,45 times". The title in Piazza Affari gains 2,52% to 1,91 euros. In the last 5 days it had gained 2,74%.
The three dams will be connected by an underwater tunnel
According to a statement released by Meed, the project's main dam will be 145 meters high, 475 meters long at the crest, and will be built using 2,7 million cubic meters of roller-compacted concrete. Two other smaller dams will also be built, connected to nearby Lake Village via an underwater tunnel. The landscape and other attractions around it are known as the Enchanted Forest. The work will include the foundations of the Bow Building, which will house a hotel.
The WeBuild contract is the second of its kind for the Trojena project after Saudi firm Al-Ayuni Investment and Contracting Company and Turkiye-based Limak Holding were awarded a SR4,5 billion infrastructure development contract. Crown Prince Mohammed bin Salman had announced the launch of the Trojena resort in March 2022.
