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A construction robotics JV from Neom + Samsung is in the works: Neom’s strategic investment arm Neom Investment Fund signed an agreement with Samsung C&T Corporation to set up a construction robotics joint venture with an initial investment of more than SAR 1.3 bn, according to a statement.
The JV will work on automating rebar cage assembly of large, pre-manufactured reinforcement cages, in addition to establishing assembly plants in Neom, creating more than 2k jobs in the kingdom, Neom says.
Why does it matter? Automating rebar cage assembly can cut costs by as much as 40% and slash manual workforce hours by up to 80%, according to the statement. The JV aims to ramp up rebar cage output amid rising demand for the construction of Neom’s The Line, along with other projects in the region.
What they said: “Developing an advanced industrial manufacturing economy at Neom represents a key step in our efforts to accelerate modern methods of construction across our major projects,” Bandar Ashour, Sector Head of Design & Construction at Neom said.
