Riyadh - Sharikat Mubasher: Advance International Company for Communication and Information Technology (AICTECH), a leading Saudi provider of security devices and integrated solutions, signed a memorandum of understanding (MoU) with China’s ZKTeco to establish a joint factory in Saudi Arabia with a total capital amounting to $1.5 million.
The new facility will focus on manufacturing security inspection gates, vehicle and pedestrian access control gates, and advanced technology systems, to better serve the Saudi market and the broader Middle East region, AICTECH announced in a bourse statement yesterday.
The Chinese company will hold a 60% stake in the joint venture while AICTEC will hold a 40% stake.
Through this collaboration, AICTECH will integrate its strong presence in local and international markets and its operational expertise with ZKTeco’s advanced technologies and global resources.
This strategic partnership reflects both companies’ commitment to Vision 2030, contributing to the development of local manufacturing capabilities, job creation, and technological advancement in the Kingdom.
ZKTeco Company is a global leader in biometric solutions and AI-powered spatial cognitive intelligence technologies, specializing in biometric authentication and smart access control. It aims to redefine human-machine interaction and enable digital transformation.
