National Engineering Services Pakistan (NESPAK), a prominent Pakistani engineering company, secured a significant project valued at SR46.5 million ($12.5 million) for Saudi Arabia’s NEOM project, the company announced on September 26.
Work on the project would commence in the near future, NESPAK said in the statement.
NESPAK signed the agreement to provide construction management services for this project two weeks ago. The budget for the project is $12.5 million, equivalent to Rs3.794 billion, NESPAK’s Vice President of Business Development, Ahmad Said told Arab News. This contract was awarded by the Saudi Electric Company (SEC) and focuses specifically on NEOM’s energy sector.
“NESPAK will provide construction management services for Extra High Voltage (EHV), High Voltage (HV), and high-voltage direct current (HVDC) projects within various zones encompassing NEOM Bay, NEOM Mountain, and NEOM Phase II,” Said added.
In a recent statement, NESPAK highlighted that winning this project reaffirmed the company’s “technical excellence and unwavering commitment”. It’s also a significant achievement for an Asian company in a region traditionally dominated by European and Western enterprises.
About NEOM
NEOM, located in north-western Saudi Arabia, is an economic zone with a staggering budget exceeding $500 billion.
It is envisioned as a symbol of architectural innovation and global ambition, forming a key part of Saudi Crown Prince Mohammed bin Salman’s Vision 2030 initiative, which aims to diversify the nation’s economy beyond oil. NEOM will be home to “The Line,” a zero-carbon city spanning 170 km and accommodating a million residents in carbon-positive urban developments powered entirely by clean energy.
NEOM’s ambitious plans encompass a wide array of regions, including a floating industrial complex, a global trade hub, luxurious tourist resorts, and a cutting-edge linear city powered by sustainable renewable energy sources.
NESPAK has a strong presence in the Middle East, with engagements in the United Arab Emirates (UAE), Qatar, Nigeria, Yemen, Iraq, and Afghanistan. The company first entered Saudi Arabia independently in 1978 through a joint venture with the Ar-Riyadh Development Authority.
Over the years, it has established a regional office in Riyadh and collaborated with various Saudi enterprises, securing 126 projects valued at $22 billion in the Kingdom.
This development further strengthened the close diplomatic, defense, and trade relations between Pakistan and Saudi Arabia.
The establishment of the Saudi-Pakistan Supreme Coordination Council two years ago signified their commitment to enhancing their ties and strategic cooperation.