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Saudi PIF unit inks sustainable manufacturing pact with global firms

RIYADH, February 21, 2024

Alat, a company powered by Saudi wealth fund PIF, today (February 21) sealed global partnerships with leading technology companies - Softbank Group, Dahua Technology, Carrier Corporation and Saudi Technology and Security Comprehensive Control Company (Tahakom) - as part of its massive $100 billion investment plan to enhance technology capabilities in the kingdom by 2030. 
 
As per the deal, Alat will deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon zero manufacturing. 
 
An innovative company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the kingdom, Alat is quickly delivering its mandate by partnering with the world’s leading corporations to innovate and transform industries, with a commitment and focus on using clean energy.
 
The company will also empower the private sector and enhance the commercial environment through its business systems and partnerships with leading international technology manufacturers.
 
On its tieup with Softbank, one of the world´s largest technology investment groups, Alat said it will establish a next generation industrial automation business in the kingdom that will manufacture groundbreaking industrial robots. 
 
The partners will invest up to $150 million to establish a fully automated manufacturing and engineering hub that will serve local and global demand. The plan is for this manufacturing plant to be opened by December 2024, it stated.
 
The deal with Carrier Corporation, a global leader in intelligent climate and energy solutions, will see the two  develop a cutting-edge manufacturing and R&D facility in the kingdom.
 
It will deliver advanced heating, ventilation and air conditioning (HVAC) solutions which includes high-tech Heating Ventilation Air Conditioning Systems (HVAC) and products like VRF (Variable Refrigerant Flow), chillers, and Air Handling Units (AHUs). 
 
The agreement includes development of a cutting-edge manufacturing and R&D center expected to create more than 5,000 local jobs.
 
On its partnership with Dahua Technology, a professional manufacturer in the security and safety field, Alat said 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. 
 
The two will invest $200 million for establishment of a secure and compliant global business for vision-centric products, called Alat AIVisio Technology Company and a state-of-the-art manufacturing facility in Saudi Arabia. 
Both companies will cooperate and support with technology enablement, testing labs and demo centres, it added.
 
On the Tahakom deal, the Saudi PIF unit said it will combine their resources and capabilities to advance smart mobility and intelligent cities solutions, in alignment with Saudi Arabia Vision 2030. 
 
A key technology leader in the region, Tahakom is already into developing Intelligent Transportation Systems (ITS), Artificial Intelligence (Al) and cutting-edge safety solutions.
 
According to Alat, this partnership will involve collaboration on solution designs, product specifications and leveraging R&D and innovation functions, as well as building technology roadmaps and cultivating both client and vendor relationships.
 
Amit Midha, the Global CEO of Alat, said: "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."
 
"We are passionately using technology to transform businesses, leveraging cutting-edge AI technology and fourth industrial revolution technologies for manufacturing. 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 noted.
 
According to him, Alat will innovate and create manufacturing capabilities across seven business units. These include semiconductors, smart devices, smart buildings, smart appliances, smart health, advanced industrials and next gen infrastructure. 
 
The company will initially manufacture products in 34 categories in seven business units. Alat has appointed some of the world´s most experienced global industry experts to lead each of the Alat business units, he added.-TradeArabia News Service



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