RIYADH — Saudi Arabia aims to make a unique mark in various fields by developing local talent and enhancing the quality of domestic jobs. The nation is dedicated to pushing forward innovation and manufacturing through increased investment in research and development (R&D) and by boosting the localization of expertise in the industrial and electronics sectors.
On February 1, Saudi Crown Prince Mohammed bin Salman unveiled the creation of “Alat” Company, a venture of the Public Investment Fund, to bolster the Kingdom’s status as a global center for sustainable industries, with a focus on cutting-edge technology and electronics.
“Alat” Company is seen as a leader in producing goods that cater to the needs of both local and international markets, operating across seven strategic business units in specific domains. These units span advanced industries, semiconductors, smart home appliances, innovative health solutions, smart electronic devices, smart buildings, and the next generation of infrastructure. This variety positions the company at the vanguard of numerous sectors, while significantly contributing to the growth and enhancement of digital industries and sustainable technologies.
“Alat” will produce in over 30 categories that address various essential sectors, including advanced robotic systems, contemporary communication systems, advanced computers, innovative digital entertainment products, and sophisticated heavy equipment for the construction, building, and mining industries. By expanding its manufacturing range, the company aims to meet a wide and comprehensive array of needs, with a keen focus on advanced technology and innovation across multiple sectors.
At A Glance * Saudi Arabia focuses on developing local talent and job quality through innovation and R&D investment. * Crown Prince Mohammed bin Salman inaugurated "Alat" Company to position the Kingdom as a leader in sustainable industries. * Alat targets over 30 product categories, aiming to cater to global market needs in sectors like robotics and communications. * The company is chaired by the Crown Prince, aiming to boost the tech sector's domestic contribution and global investment appeal. * Alat's alignment with global sustainability efforts and strategic partnerships bolsters its industrial and environmental impact initiatives. * The company's commitment to sustainability includes long-term goals of achieving zero carbon emissions by 2060. * Alat's operations are expected to create 39,000 jobs and contribute $9.33 billion to the non-oil GDP by 2030.
Chaired by the Saudi Crown Prince, “Alat’s” board of directors seeks to effectively fortify the Kingdom’s tech sector. This effort includes boosting its contribution to domestic content and leveraging the sector’s swift expansion. The company also aims to enhance its appeal and capacity to create innovative investment opportunities, solidifying its role as a pivotal force in the development of the tech sector and in promoting sustainability and economic advancement in the Kingdom.
Project Features
Alat Company is poised to be the region’s premier technological initiative, aligning with leading global sustainable enterprises that specialize in fostering industrial development while minimizing environmental impact. The foundation of the company with substantial backing from the Saudi Public Investment Fund sets the stage for its success. All critical factors for growth and development have been allocated to this forward-looking project, which will concentrate on electronics, communications, conductors, and technology industries, as well as initiatives that have a positive effect on reducing industrial and environmental impacts.
We are committed to transforming global industries with sustainable manufacturing by leveraging cutting-edge Al. By embracing sustainability and efficiency, I look forward to leveraging Saudi Arabia’s clean energy landscape to build a better tomorrow for the Kingdom and the world.
Amit Midha Global CEO, Alat
All of the company’s products, whether for the domestic market or export, will be sustainable and comparable to their global counterparts. Thus, it will focus on strategic axes, the most important of which are technologically advanced industries. What distinguishes this massive project is its formation of strategic alliances with all the leading companies involved in such projects. To enhance its capabilities and the efficiency of its products and development, it aims to achieve all of the objectives set for a global economic and technological renaissance.
The project will significantly impact reducing reliance on oil and its revenues, making the desired industrial-economic transformation process a reality rather than a recent ambition, and establishing Saudi Arabia as a global hub for sustainable industries.
Important Industrial Transformation
“Alat” will be crucial in strengthening the private sector by forming strategic alliances with leading companies in advanced industries and electronics. These partnerships enable local businesses to benefit from advanced technologies and innovation, contributing to the development and strengthening of the local economic system and boosting economic growth in the region. This enhances “Alat’s” role in promoting economic integration and improving technical capabilities and innovation.
On the other hand, the company will play a vital role in promoting global industrial sector transformation, as well as in Saudi Arabia, where it will form strategic partnerships and provide long-term industrial solutions using clean energy sources. The company is expected to meet rising global demand while keeping up with the needs of future industries and the next generation of manufacturing. Furthermore, the company will strengthen national supply chains and position the Kingdom as a global hub for advanced electronic industries.
Alat is also expected to have a positive impact on the Saudi labor market, creating over 39,000 direct job opportunities by 2030. The company also contributes significantly to the non-oil GDP, with a value of up to $9.33 billion, which promotes long-term economic development and demonstrates its commitment to economic growth in the Kingdom.
Clean Energy Solutions
Alat primarily offers international companies sustainable manufacturing solutions by leveraging the Kingdom’s clean energy resources. The company intends to achieve zero carbon emissions by 2060, and the Public Investment Fund aims for carbon neutrality by 2050.
Furthermore, Alat seeks to enable international industrial companies to benefit from the Saudi economy’s competitive advantages, stemming from the Kingdom’s unique geographical location and significant investments in the technical sector.