DSV's joint venture struggling to get off the ground in Saudi Arabia

A number of important approvals are delaying the start of the Neom mega city project. DSV had hoped that work would truly get going in the second quarter.

”Neom is an extensive project in which DSV will be part of a joint venture for the overall logistics solutions. As we have previously stated, it requires a number of regulatory approvals, which unfortunately are taking longer to obtain than we had hoped,” DSV states in a written response to ShippingWatch. | Photo: Dsv / Pr

by SEBASTIAN SCHLÜTER JACOBSEN

Correction: A previous version of this article stated that DSV expects its first profit in the Neom project in 6-7 years. This has been corrected to 4-5 years. At the same time, it was previously stated that DSV alone will invest USD 10 billion in the project. However, this has been corrected to be in collaboration with Neom.

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