Riyadh, Saudi Arabia – Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships aimed at advancing its plans for sustainable manufacturing.
Amit Midha, global CEO of Alat, revealed on Tuesday collaborations with Softbank, Carrier Corporation, Tahakoum, and Dahua Technology, Saudi Gazette reported. The goal is to aid partner companies in reducing emissions and transitioning towards carbon-neutral production.
Midha emphasized Alat’s commitment to leveraging clean energy sources such as solar, wind, and green hydrogen, integrating sustainability measures across operations, buildings, logistics, and the supply chain. He declared, “We will redefine sustainable manufacturing.”
The announcement took place at a press launching ceremony in Riyadh, attended by Minister of Communications and Information Technology Abdullah Al-Swaha and Minister of Industry and Mineral Resources Bandar Alkhorayef. Alkhorayef highlighted Saudi Arabia’s shift from buying to building technology, aligning with the country’s ambition to become a global technology hub.
Alat plans to invest $100 billion and create 39,000 direct job opportunities by 2030. The company unveiled a $150 million partnership with SoftBank Group, Carrier Corporation, and Tahakoum to manufacture advanced robotics, with the factory scheduled to open on December 18, 2024.
Another $200 million partnership was announced with Dahua Technology, a major Chinese surveillance equipment manufacturer. The joint venture aims to produce surveillance hardware, including sensors for “smart cities,” and establish a research and development center within the Kingdom.
Crown Prince Mohammed bin Salman, who also serves as Prime Minister and Chairman of the PIF Board of Directors, had previously announced the launch of Alat on February 1. The company aims to contribute significantly to making Saudi Arabia a global electronics and advanced industries hub, targeting a direct non-oil GDP contribution of $9.3 billion by 2030. Alat will focus on seven strategic business units, including advanced industries, semiconductors, smart appliances, smart health, smart devices, smart buildings, and next-generation infrastructure.
