CALCULATE YOUR SIP RETURNS

Genesys International Secures ₹35 Crore Projects from NEOM and Saudi Geological Survey

02 October 20243 mins read by Angel One
Genesys International secures ₹35 crore in projects from NEOM Ltd and the Saudi Geological Survey, enhancing geospatial tech in Saudi infrastructure.
Genesys International Secures ₹35 Crore Projects from NEOM and Saudi Geological Survey
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

On September 27, 2024, Genesys International Corporation Limited informed that it has secured two significant projects from NEOM Ltd and the Saudi Geological Survey Authority, collectively valued at ₹35 crore. This milestone underscores the growing adoption of geospatial technology in infrastructure development within Saudi Arabia. NEOM, an ambitious urban project spanning 26,500 square kilometres, is poised to redefine urban planning and environmental engagement.

Under the agreement, Genesys will collaborate with the Land Affairs Compliance and Enforcement division of NEOM Ltd. The focus will be on achieving precise mapping and verifying land use compliance across all Land Use Plans (LUPs), covering critical areas of the master plan, including Oxagon, Gulf of Aqaba, Trojena, and the Line/Spine. 

Additionally, the project with the Saudi Geological Survey will involve the development of a Spatial Information System designed to manage geological risks in the Makkah Al-Mukarramah and Riyadh regions. This initiative is part of the Authority’s Natural Geological Risks Monitoring Initiative, highlighting Genesys’ role in advancing geospatial solutions for enhanced infrastructural resilience.

Commenting on this significant development, the Chairman and Managing Director of Genesys

International, Mr Sajid Malik, said, “Geospatial technology is central to the ambitious vision of NEOM, and our expertise in this field will ensure accuracy in verifying land use compliance, contributing to the sustainable and precise development of this groundbreaking project. Our capabilities will also enable us to play a critical role in the efforts of The Saudi Geological Survey to manage potential risks, helping us to identify and mitigate hazards with precision to protect both communities and the natural landscape in key regions like Makkah and Riyadh. We look forward to working on these prestigious projects to put India’s geospatial expertise on the global map.” 

He further expressed his honour to be part of Saudi Arabia’s ambitious transformation journey, where the company’s advanced technologies and expertise will play a crucial role in ensuring efficiency and safety across various sectors. With a unique position in the market, Genesys possesses the necessary resources and talent pool to execute complex projects effectively. The company is also actively planning further expansions to enhance its capabilities and global reach in this domain.

He also added, “Utilising spatial information system technology and 3D Digital Twin technology and expertise, Genesys seeks to leverage modern tools for collecting, storing, processing, and analysing spatial data with precision and speed and the projects reinforce Genesys competency in advanced mapping technologies in some of the most prestigious projects worldwide.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

We're Live on WhatsApp! Join our channel for market insights & updates

Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy Zero Brokerage on Equity Delivery

Get the link to download the App

Send App Link
Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Enjoy ₹0 Account Opening Charges