EQS-News: BAUER Aktiengesellschaft: BAUER Group wins follow-up contracts for megaproject NEOM in Saudi Arabia

Jeddah, Saudi Arabia The NEOM megacity is currently one of the largest construction projects in the Arab region and the world. This is to be newly built in the northwest of Saudi Arabia near the Red Sea. A major part of this is the construction project THE LINE, a city which, when completed, will have a length of 170 km and accommodate nine million people.

Saudi BAUER Foundation Contractors Ltd, a company of the BAUER Group, was awarded a contract in August for the first specialist foundation engineering project. This involves the installation of approximately 70 m deep large-diameter bored piles for the mega construction project THE LINE. Construction progress is fully on schedule, enabling the first contract to be completed on time.

Bauer has now been awarded a contract for two further construction phases for the foundation of THE LINE, which will also involve the construction of approximately 70 m deep large-diameter bored piles up to 2.5 m in diameter.

All contracts are part of a three-year framework agreement, within which further projects are expected for the BAUER Group. "The NEOM megacity is currently the talk of the town and one of the world's most impressive construction projects," says Michael Stomberg, CEO of BAUER AG. "Shortly before the successful completion of the first contract, we are pleased to have the confidence of the client to execute further project sections."

In addition, the BAUER Group recently acquired further extensive construction contracts, including in Thailand, where the local subsidiary will carry out the diaphragm walls and foundations for three stations of the "Purple Line South" subway line in Bangkok on behalf of the Mass Rapid Transport Authority (MRTA). In Sweden, Bauer was awarded the contract for the foundation works of a new refinery for biofuels. The necessary soil improvement by means of deep soil mixing will reach new dimensions with a diameter of up to three meters.

In total, the BAUER Group has thus received new projects with a total volume of around EUR 130 million in recent weeks. This means that the order backlog in the Construction segment remains at a record level.

About Bauer
The BAUER Group is a leading provider of services, equipment and products dealing with ground and groundwater. The Group can rely on a worldwide network on all continents. The operations are divided into three forward-looking segments with high synergy potential: Construction, Equipment and Resources. Bauer profits enormously from the collaboration of its three business segments, enabling the Group to position itself as an innovative, highly specialized provider of products and services for demanding projects in specialist foundation engineering and related markets. Bauer therefore offers suitable solutions to the worlds greatest challenges, such as urbanization, the growing infrastructure needs, the environment, as well as water. The BAUER Group was founded in 1790 and is based in Schrobenhausen, Bavaria. In 2021, it employed about 12,000 people and achieved total Group revenues of EUR 1.5 billion worldwide. BAUER Aktiengesellschaft is listed in the Prime Standard of the German Stock Exchange. More information can be found at www.bauer.de. Follow us on Facebook, LinkedIn and YouTube!