ALBAWABA – NEOM, the urban area built by Saudi Arabia in Tabuk Province that was launched in 2017 by Crown Prince Mohammad bin Salman, and Samsung Construction and Trading Corporation, the South Korean construction and engineering company, announced the investment of $350 million (1.3 billion riyals) in construction robots.
NEOM introduces construction robots to accelerate development
NEOM announced partnering with Samsung C&T and investing $350 million (1.3 billion riyals) in construction robots, in aims to accelerate development and reduce manual working hours by 80%.
According to the two companies, this joint venture will automate all assembly processes of steel reinforcement structures used in construction through advanced robots.
Majid Mufti, CEO, NEOM Investment Fund, commented: “Sustainability at NEOM is a core principle that drives not only what we build, but how we build it. By automating labor-intensive processes through robotics, we are pushing the boundaries of construction innovation. Our partnership with global leaders like Samsung is in line with our strategy to develop global champions that catalyze supply chains, attract future value, and create a new blueprint for efficient, safe, and environmentally responsible construction.”
NEOM announced partnering with Samsung C&T and investing $350 million (1.3 billion riyals) in construction robots, in aims to accelerate development and reduce manual working hours by 80%. (Shutterstock)
The construction robots aim to reduce manual labor hours by approximately 80%, enhance safety and quality, and decrease material waste, according to Saudi Press Agency (SPA).
“We see tremendous potential in the collaboration with NEOM, and we are excited to be at the forefront of developing construction automation technology. Together, we aim to revolutionize the construction industry by incorporating innovative robotics and automation solutions that will redefine the delivery of regional projects within NEOM,” stated Hojin Jung, President & Head of Corporate New Business at Samsung C&T Corporation.
It is worth noting that the global construction robot market was valued at approximately $168.2 million in 2022 and is expected to reach $774.6 million by 2032.
