logo-en
  • Home
  • Companies
  • Investors
  • Opportunities
    • Home
    • SME Loans
  • FinTech Hub
  • News
LoginRegister
  • english iconEnglish
  • english iconArabic
  1. Mubasher News
  2. PIF’s Alat signs 4 deals to scale technology manufacturing

PIF’s Alat signs 4 deals to scale technology manufacturing

NOHA.GAD
Feb 20, 2024
PIF’s Alat partnered with four technology companies to scale technology manufacturing in the Kingdom

Riyadh - Sharikat Mubasher: Alat, an innovative manufacturing company launched by the Public Investment Fund (PIF), entered into partnerships with four leading technology companies: Softbank Group, Carrier Corporation, Dahua Technology, and Tahakom.

In a statement, Alat said that it will deliver sustainable manufacturing to help these global companies reduce their emissions and move towards carbon-zero manufacturing.

The newly established company targets investing $100 billion by 2030 to upgrade the capabilities of the technological sector, benefiting from the rapid development of this sector in the Kingdom.

It also aims to empower the private sector and enhance the commercial environment through its business systems and partnerships with leading international technology manufacturers.

Global CEO of Alat Amit Midha stated that the four partnerships will enable the company to redefine sustainable manufacturing, in collaboration with international and regional partners.

“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,” Midha added.

Alat’s partnership with Softbank Group aims to establish a next-generation industrial automation business in the Kingdom that will manufacture groundbreaking industrial robots. Both parties will invest up to $150 million to build a fully automated manufacturing and engineering hub that will serve local and global demand.

Additionally, Alat and Carrier Corporation will join efforts to develop a cutting-edge manufacturing and R&D facility in the Kingdom aimed at decarbonizing emissions in buildings, and dramatically increasing their energy efficiency.

Dahua Technology and Alat will form 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.

Moreover, Alat’s partnership with Tahakom aims to develop smart mobility and intelligent cities solutions, in alignment with Vision 2030.

Tags

Share

Attract clients with your ad

Start Now

Trending

INVEST SAUDI leads Kingdom’s presence at INNOPROM 2025 in Russia
MUBASHER
center3, Eastern Province join hands to boost data centers in Kingdom
MUBASHER.SA
Cisco: Saudi enterprises accelerate shift to AI-ready networks
MUBASHER.SA
TruKKer secures SAR 55 mn private credit facility from Ruya Partners
MUBASHER.SA
Emkan Finance, Tamweel Aloula plan IPOs as fintech demand rises
MUBASHER.SA

Related News

Private Equities News
Calendar Icon
Jul 6, 2025
INVEST SAUDI leads Kingdom’s presence at INNOPROM 2025 in Russia
Read More
Private Equities News
Calendar Icon
Jul 6, 2025
center3, Eastern Province join hands to boost data centers in Kingdom
Read More
Private Equities News
Calendar Icon
Jul 6, 2025
Cisco: Saudi enterprises accelerate shift to AI-ready networks
Read More
Private Equities News
Calendar Icon
Jul 6, 2025
Emkan Finance, Tamweel Aloula plan IPOs as fintech demand rises
Read More
Private Equities News
Calendar Icon
Jul 6, 2025
Beltone Holding launches Robin to reshape data, AI landscape in region
Read More
Private Equities News
Calendar Icon
Jul 6, 2025
Stride Ventures expands to GCC with flagship Fund
Read More
Private Equities News
Calendar Icon
Jul 6, 2025
Saudi Arabia ranks first globally in 2025 ICT Development Index
Read More

Sharikat Mubasher Newsletter

Get insights and exclusive content from the world of business and finance that you can trust delivered to your inbox

Email is Required
Should be a valid email

Democratizing private equity investments

  • Home
  • Companies
  • Investors
  • FinTech Hub
  • Opportunities
  • News
  • Contact Us
  • Sitemap
2024 All rights reserved to Sharikat Mubasher