Saudi Arabia’s HRH Mohammed Bin Salman Launches Alat To Make Saudi Arabia A Global Hub For Electronics And Advanced Industries

Saudi Arabia’s HRH Mohammed Bin Salman Launches Alat To Make Saudi Arabia A Global Hub For Electronics And Advanced Industries

February 2024 saw HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Chairman of the Board of Directors of the country’s sovereign wealth fund, the Public Investment Fund (PIF), announce the launch of Alat, a new tech-focused company backed by the PIF. Besides being tasked with the goal of creating 39,000 technology and manufacturing jobs within Saudi Arabia, Alat is expected to contribute US$9.3 billion to the Kingdom’s non-oil gross domestic product (GDP) by 2030. Aligning with Saudi Arabia’s mission to become a global hub for sustainable technology manufacturing, Alat will focus on manufacturing products that serve local and international markets within nine key business units: advanced industries, semiconductors, smart appliances, smart health, smart devices, smart buildings, and next-generation infrastructure.

 The company’s products will thus be categorized into 30 distinct areas, which will include robotic systems, communication systems, advanced computers, digital entertainment products, and advanced heavy machinery used in construction, building, and mining.The establishment of Alat aligns with the PIF’s strategy to expand into high-priority sectors, while also strengthening local supply chains to enable economic diversification and sustainable growth, which is in line with Saudi Arabia’s Vision 2030. Alat has already inked partnerships with four of the world’s leading technology companies- these include Softbank Group, Carrier Corporation, Dahua Technology Ltd., and the Saudi Technology and Security Comprehensive Control Company (Tahakom).

 With Softbank Group, Alat will be working alongside the enterprise -one of the world’s largest technology investment groups- to establish a next generation industrial automation business in the Kingdom that will manufacture ground-breaking industrial robots. Meanwhile, Carrier Corporation, a global leader in intelligent climate and energy solutions, will, in collaboration with Alat, develop a cutting-edge manufacturing and research and development (R&D) facility in the Kingdom aimed at decarbonizing emissions in buildings, and dramatically increasing their energy efficiency.

 As for Dahua Technology Ltd., a professional manufacturer in the security and safety field, it will start manufacturing technology products in the region, through a new joint venture to produce and market solutions for safety and surveillance use that are applicable in intelligent cities, as well as intelligent buildings and enterprise applications. Finally, in partnership with the Saudi Technology and Security Comprehensive Control Company (Tahakom), which already develops intelligent transportation systems, artificial intelligence, and cutting-edge safety solutions, Alat aims to combine their resources and capabilities to advance smart mobility and intelligent cities solutions, in alignment with Saudi Arabia Vision 2030.

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