Saudi Arabia cancels several NEOM megastructure contracts

Several contracts associated with Saudi Arabia’s NEOM project have been cancelled, according to a series of reports. The initiative is best known for its ambition to build a 100-mile linear city named The Line, though it also encompasses several other projects across Saudi Arabia.

This week, engineering and contractor group Webuild announced that NEOM had terminated its contract for the construction of three dams and a freshwater lake to support the Trojena ski resort. A contract related to the construction of The Bow, a hotel-residential structure overlooking a valley below the resort, was also terminated.

Separately, South Korean contractor Hyundai E&C announced that NEOM had cancelled a project of theirs to build tunnel sections under The Line. According to the contractor, the primary reason for the cancellation was “a request for contract termination due to the c...