PIF-backed Alat signs global agreements to enhance sustainable technology manufacturing

The company seeks to invest $100 billion by 2030 to strengthen the tech industry
PIF-backed Alat signs global agreements to enhance sustainable technology manufacturing
Part of Alat's launch event in Riyadh (Photo Credit: SPA)

Alat, a sustainable technology manufacturing company supported by Saudi Arabia’s Public Investment Fund (PIF), has formed partnerships with four global companies to enhance the technology sector in the country.

The announcement was made on Tuesday during the launch of Alat in Riyadh. The event aimed to outline the company’s strategic objectives. It witnessed the presence of ministers, officials, and CEOs from prominent global technology firms.

With the goal of investing $100 billion by 2030 to strengthen the technology industry, Alat has joined forces with SoftBank Group, Carrier Corporation, Dahua Technology, and Saudi Technology and Security Comprehensive Control Company (Tahakom).

Read more: Alat: Saudi Arabia’s Crown Prince launches new company with projected $9.3 billion GDP impact by 2030

As part of the agreements, Alat will provide sustainable manufacturing solutions to assist its partners in reducing emissions and transitioning to carbon-neutral production.

Advancing robotics manufacturing

In addition, Alat and investment holding firm SoftBank will establish an industrial automation enterprise in Saudi Arabia focused on producing industrial robots. Furthermore, they plan to invest approximately $150 million to establish a fully automated manufacturing and engineering center, which is scheduled to launch in December.

Developing a sustainable manufacturing center

Also, Carrier, an intelligent climate and energy solutions company based in Florida, has agreed to collaborate with Alat in developing a manufacturing and research and development center in Saudi Arabia. Moreover, the center aims to decrease emissions in buildings and enhance energy efficiency, and it is expected to generate over 5,000 job opportunities locally.

Additionally, Alat has outlined its focus on manufacturing products for both domestic and international markets across seven business units: advanced industries, semiconductors, smart appliances, health devices, buildings, and next-generation infrastructure.

Led by Saudi Crown Prince Mohammed bin Salman, Alat was announced in February. It aims to create 39,000 direct jobs in Saudi Arabia and contribute a non-oil gross domestic product of $9.3 billion by 2030.

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