ROBIT INVOLVED IN SAUDI ARABIA'S NEOM PROJECT

ROBIT PLC        PRESS RELEASE         17 JANUARY 2023 AT 9.30 A.M.

ROBIT INVOLVED IN SAUDI ARABIA'S NEOM PROJECT

One of the world's largest construction projects has started in Saudi Arabia near the northern end of the Red Sea. Neom is a futuristic city with an area of ​​26,500 square kilometers.

The Line, a 170 kilometer long building, is part of the Neom project. It will use high-speed trains for transport within the city. The rail system will require the excavation of some 28 kilometres of tunnels. In the summer of 2022, the bidding for jumbo drilling in the tunnel project was won by Jinyang R&S, one of the largest jumbo drill rental companies in Korea.

Rock tools for the tunnel jumbos will be supplied by Robit. Robit does not have a long-term supply contract, but the project is a significant opportunity.

 "We have already received the first orders, size category is not yet significant in terms of invoicing. However Robit is in a good position to continue working closely with the customer," says CEO Arto Halonen.

Robit has signed a distribution agreement with the mentioned Korean company Jinyang R&S already in 2017. Drilling equipment has been delivered to numerous construction sites in Korea since then.

ROBIT PLC
Arto Halonen

Further information:
Arto Halonen,
Group CEO
+358 40 028 0717
arto.halonen@robitgroup.com

Distribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com

Robit is the expert focused on high quality drilling consumables for mining and construction markets globally to help you drill Further. Faster. Robit strives to be world number one company in drilling consumables. Through our high and proven quality Top Hammer, Down the Hole and Geotechnical products, and our expert services, we deliver saving in drilling costs to our customers. Robit has its own sales and service points in eight countries and an active distributor network through which it sells to more than 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.

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