Saudi firm Alat to invest Dh367 billion to enhance technology
Alat is entering into four global partnerships in line with its strategic goals
Dubai: Alat, a Saudi industrial electronics company, announced partnerships with four global technology companies – Softbank Group, Carrier Corporation, Dahua Technology and Tahakom – to enhance their manufacturing technology, in a press release on Tuesday.
The firm hopes to reduce their emissions and eventually shifting to zero carbon manufacturing as part of the Saudi Vision 2030.
Alat, a recently formed PIF company, will invest $100 billion (Dh367 billion) by 2030 to deliver its mandate, the firm said. It will commit to use clean energy, and enhance the capabilities of the technological sector, benefiting from the rapid development of this sector in Saudi Arabia.
Alat aims to empower the private sector through its business systems and partnerships with leading international technology manufacturers through initially manufacturing products in 34 categories in seven business units; such as, semiconductors, smart devices, smart buildings, smart appliances, smart health, advanced industrials and next gen infrastructure.
Amit Midha, 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.”
Softbank Group
Alat and Softbank will establish a next generation industrial automation business in Saudi Arabia that will manufacture groundbreaking industrial robots. The partners will invest up to USD150 million (Dh550 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 functioning by December.
Carrier Corporation
A global leader in intelligent climate and energy solutions, Carrier Corporation will develop through its partnership with Alat a cutting-edge manufacturing and R&D facility in the Kingdom aimed at decarbonizing emissions in buildings, and dramatically increasing their energy efficiency.
The partnership will deliver advanced heating, ventilation and air conditioning solutions, which include high-tech Heating Ventilation Air Conditioning Systems (HVAC) and products like Variable Refrigerant Flow (VRF), chillers, and Air Handling Units (AHUs) as well as the creating more than 5,000 local jobs.
Dahua Technology Ltd
A manufacturer in the security and safety field, Dahua Technology, will work with Alat to establish a secure and compliant global business for vision-centric products, called Alat AIVisio Technology Co. Ltd., and a state-of-the-art manufacturing facility in Saudi Arabia.
Both companies will support with technology enablement, testing labs and demo centres, 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.
Alat and Dahua Technology will invest $200 million (Dh734 million) to reach their targets.
The Saudi Technology and Security Comprehensive Control Company (Tahakom)
Tahakom will share its resources with Alat to advance smart mobility and intelligent cities solutions, in alignment with Saudi Arabia Vision 2030.
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.