Kocaer Çelik Sanayi ve Ticaret A.Ş. declared that it has been authorized as a registered supplier for the $500 billion Neom megacity project, which is being implemented by Saudi Arabia's Public Investment Fund (PIF).
NEOM is a massive infrastructure project planned as part of Saudi Arabia's Vision 2030, involving an investment of over 200 billion dollars. The NEOM project, implemented by Saudi Arabia's Public Investment Fund (PIF), aims to build a megacity consisting of four districts in northwestern Saudi Arabia on the shores of the Red Sea. The construction of the first zone of this project, which will utilize renewable energy sources, is planned to be completed in 2024.
Kocaer Çelik's participation as an authorized supplier in the NEOM project draws attention as a step towards Turkish companies taking an active role in Saudi Arabia's giant infrastructure projects. Kocaer Çelik aims to strengthen its presence in the region with this project, which accounted for 19 percent of its overseas sales in the MENA region in 2022.
