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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2023-02-15 C$ 28.91
Market Cap C$ 5,075,273,425
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SNC-Lavalin wins 5-year consultancy contract

2023-02-15 09:11 ET - News Release

Mr. Ian Edwards reports

SNC-LAVALIN SECURES DELIVERY PARTNER ROLE FOR THE LINE, NEOM'S FLAGSHIP URBAN DEVELOPMENT IN SAUDI ARABIA

SNC-Lavalin Group Inc. has been appointed as a delivery partner organization for The Line at Neom in the Kingdom of Saudi Arabia. A civilizational revolution that will have no roads, cars or carbon emissions, The Line is set to provide an unprecedented urban living experience.

A linear development, The Line, once completed, will be a 170-kilometre-long and 200-metre-wide cognitive city run on 100 per cent clean energy. It will eventually accommodate nine million residents and is being built on a land area of just 34 square kilometres -- a footprint unheard of when compared with other cities of similar capacity. Designed around nature rather than over it, The Line will be surrounded by large world-class protected areas as 95 per cent of the surrounding Neom region will be protected for conservation.

SNC-Lavalin has been awarded a five-year contract under a framework agreement for consultancy services on The Line. In collaboration with Neom and other delivery partner organizations, SNC-Lavalin will provide project and construction management consultancy services for the design, procurement, construction, testing and commissioning of the project, together with the management of the critical interfaces that the linear city shares with adjacent Neom projects and logistics. The project has adopted a highly collaborative delivery model in response to its scale, complexity, supply chain and requirements for innovation.

"With a vision for engineering a sustainable society, SNC-Lavalin is committed to helping governments and the private sector meet their net-zero targets by providing our global expertise and world-class sustainability solutions," said Ian L. Edwards, president and chief executive officer, SNC-Lavalin. "The Line is a central component of Neom, which itself is one of the largest projects under Saudi Vision 2030. The linear, cognitive city will play a significant role in helping Neom accelerate the kingdom's economic diversification agenda by redefining the urban living experience, boosting tourism and creating job opportunities for the people of Saudi Arabia."

The Line offers a new approach to urban design. The idea of layering city functions vertically while giving people the possibility of moving seamlessly in three dimensions (up, down or across) to access them is a concept referred to as zero gravity urbanism. The development's infrastructure will be embedded with sustainable, smart technology containing essential utilities and transportation services, generating car-free communities and public realms.

"The Line is a truly groundbreaking, world-first project and we are proud to have the opportunity to bring our global engineering, digital and net-zero expertise to help create a lasting legacy for the kingdom and its people," said Philip Hoare, president, engineering services, United Kingdom and Europe, Middle East, India, and Canada, SNC-Lavalin. "As a delivery partner organization, we will work closely with Neom and our partners to seamlessly connect people, data and technology to drive innovation, value, efficiency and certainty on the project. Our combined intent is to radically transform the way major infrastructure projects are delivered, and The Line, with its vision and complexity, provides a great opportunity to demonstrate what our industry can achieve."

Globally, SNC-Lavalin has developed the engineering net zero (ENZ) program, which focuses on leading the engineering industry to achieve net-zero carbon as rapidly as possible, by helping clients manage climate risks and build climate resilience. Through its consulting, advisory and environmental services, the company is also helping clients to unlock project value and transform outcomes by adopting advanced real-time data analytics, machine learning and AI (artificial intelligence), to enhance prioritization of tasks, support earlier decision making and enhance collaboration.

With a steadfast commitment to supporting Saudi's economic growth, SNC-Lavalin has expanded its local presence in the kingdom with regional offices in Riyadh, Jeddah and Al Khobar, supporting clients in buildings and places, transportation, energy, and water sectors. Some of the company's key projects in Saudi Arabia include Diriyah Gate, Six Flags Qiddiya theme park, Riyadh Metro and King Abdulaziz International Airport.

About SNC-Lavalin Group Inc.

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for the planet and its people. The company creates sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. SNC deploys global capabilities locally to its clients and delivers unique end-to-end services across the whole life cycle of an asset, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning, and capital -- and delivered to clients in key strategic sectors such as engineering services, nuclear, operations and maintenance, and capital.

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