DSV-Neom $10 Billion Tie-Up Delayed Due to Missing Approvals
- Company says second-quarter time line is no longer realistic
- Neom delay won’t impact earnings, full-year guidance
NEOM project renderings.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The $10 billion joint venture between Denmark’s freight company DSV A/S and Saudi Arabia’s desert project Neom has been delayed due to missing regulatory approvals.
The partnership, which will focus on providing logistics services for Neom in the coming years, was supposed to start in the second quarter, but DSV said that such a time line is no longer realistic. The delay was first reported by Shippingwatch earlier on Monday.