Neom’s Trojena Dam camps sign $54m facilities contract

• Webuild gets $54m contract
• Integrated facilities management
• Still concerns over Trojena’s delivery

Saudi modular building and services company Red Sea International said it has signed a SAR203 million ($54 million) contract with Italy’s Webuild at Trojena, the mountain resort being developed as part of Saudi Arabia’s Neom giga-project.

The contract comes as scrutiny persists over whether Trojena can be delivered in time to host the 2029 Asian Winter Games, with reports of construction delays and broader questions over staging a winter sports competition in a desert nation as Saudi Arabia reassesses spending priorities.

In a stock exchange disclosure, Tadawul-listed Red Sea International said the two-year deal covers integrated facilities management, including operations and maintenance, for the main camp and spike camp supporting the Webuild Trojena Dam Project.

It said the contract will be carried out in line with Neom worker welfare requirements, with a financial impact expected to start in the first quarter of 2026.

Launched in 2022 by Crown Prince Mohammed bin Salman, Trojena is positioned as a year-round alpine destination within Neom, covering more than 1,400 square kilometres at elevations of 1,500 to 2,600 metres.

Plans include 30 kilometres of ski slopes and a large artificial snow network, with water to be piped more than 200 kilometres from near the Gulf of Aqaba.

In August it was reported that the Olympic Council of Asia had contacted South Korean authorities about the possibility of South Korea hosting the event over concerns Saudi Arabia may struggle to meet construction deadlines at Trojena.

Saudi Arabia’s $1 trillion Public Investment Fund (PIF), the kingdom’s main vehicle for delivering flagship projects including the $500 billion controversial Neom project, has also signalled a sharper focus on prioritising spending.

AGBI reported in October that PIF governor Yasir Al-Rumayyan said the fund’s 2026-2030 strategy would be announced “very soon” and would centre on six “ecosystems”, including Neom as a standalone priority area.

The kingdom’s investment minister has urged the fund to ease domestic spending and make room for private capital.

Further reading:

• Saudi Arabia giga-projects tracker
• Neom in spotlight as wealth fund lays out six-point plan
• Webuild adds fresh Diriyah contract to Saudi projects

Webuild, one of Italy’s largest builders, has operated in Saudi Arabia since the 1960s. 

It is building a system of three dams to feed an artificial lake at Trojena and is working on The Bow, an overhanging structure set to house a luxury hotel along with residential and hospitality facilities.

Webuild is also working on Neom’s “Connector” high-speed railway package, a 57-km section between Oxagon and The Line.

Its Saudi operations also include Riyadh Metro Line 3 and contracts at Diriyah.