Webuild, the main contractor for the Trojena announced that the client NEOM has exercised the termination for convenience regarding the construction in Trojena (Saudi Arabia) of a system of three dams designed to feed a freshwater lake, as well as the architectural structure “The Bow”.
The termination — also exercised by the client with respect to other contractors for other works in the area — will become effective on March 29, 2026. As of that date, the works are approximately 30% complete, with a remaining project backlog for Webuild of approximately €2.8 billion.
Costs accrued up to the effective date of the termination, as well as those related to the early termination of the contract — including site disengagement and demobilisation activities — will be reimbursed by the client, leaving the Webuild Group unharmed by the effects of the termination, as provided under the contract and applicable laws.
Webuild’s construction backlog, net of the residual activities related to the Trojena contract, remains in excess of €50 billion, statement mentioned.
Earlier, during January 2024, Webuild signed USD 4.7 billion contract for the Trojena mountain destination in NEOM, Saudi Arabia.(read more)
