Saudi Gazette report
RIYADH — Amit Midha, global CEO of Alat Company, announced on Tuesday four global partnerships that aimed to accelerate its plans and ambitions pertaining to sustainable manufacturing. He said that Alat, a subsidiary of Public Investment Fund (PIF), has partnered with Softbank, Carrier Corporation, Tahakoum, and Dahau Technology, towards delivering sustainable manufacturing to help these companies reduce their emissions and move towards carbon zero manufacturing.
“In conjunction with our international and regional partners, the first four of which we proudly announce today, we will redefine sustainable manufacturing. Alat’s mandate is focused on harnessing the Kingdom’s solar, wind and green hydrogen clean energy,” he said, adding, “this is not only using clean energy, but applying sustainability measures to all our operations, buildings, logistics and supply chain, with sustainability at the core of everything we do.”
He said this during the company’s press launching ceremony, which was held in the presence of Minister of Communications and Information Technology Abdullah Al-Swaha and Minister of Industry and Mineral Resources Bandar Alkhorayef in Riyadh on Tuesday. “Saudi Arabia is no longer going to buy the technology. It is going to be building the technology," Alkhorayef said during the event.
Midha said that Alat is committed to make investments worth a total of $100 billion and create 39,000 direct job opportunities by the year 2030. Alat also announced a $150 million partnership with Japan's SoftBank Group, Carrier Corporation, one of the key players in intelligent climate and energy solutions, and Tahakoum, Saudi Technology and Security Comprehensive Control Company, to manufacture advanced robotics in the Kingdom. The factory will be opened on December 18, 2024.
Midha announced a $200 million partnership with Dahua Technology, one of China's biggest surveillance equipment makers, to manufacture surveillance hardware in Saudi Arabia. The joint venture will also manufacture hardware, such as sensors, used in so-called “smart cities” and establish a research and development center in the Kingdom.
Crown Prince, Prime Minister and Chairman of the Board of Directors of PIF Mohammed bin Salman announced on Feb. 1 the launch of Alat company that aimed to contribute to making Saudi Arabia a global hub for electronics and advanced industries. The new company aims to achieve a direct non-oil GDP contribution of $9.3 billion in Saudi Arabia by the year 2030.
The PIF company would become a national champion that will contribute to the objective of making Saudi Arabia a global hub for sustainable technology manufacturing that focuses on advanced technologies and electronics. Alat will focus on manufacturing products that serve local and international markets within seven key strategic business units such as advanced industries and semiconductors, smart appliances, smart health, smart devices and smart buildings, and next generation infrastructure.
