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Saudi’s NEOM and Denmark’s DSV Establish $10B Joint Venture

Saudi Arabia’s NEOM, a $500B flagship project, has formed a $10B joint venture (JV) with Denmark’s DSV, the world’s third-largest freight forwarder, as revealed in their joint statement. NEOM’s primary goal is to establish itself as a vital logistics hub. This initiative was introduced by Saudi Arabia’s Crown Prince Mohammed bin Salman in 2017, with the long-term vision of accommodating 9 million residents.