Riyadh, February 01, 2024,His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, the Crown Prince, Prime Minister of the Kingdom of Saudi Arabia, and Chairman of the Board of Directors of the Public Investment Fund (PIF), unveiled the inauguration of "Alat," a PIF company designed to establish a national leader in sustainable technology manufacturing. The primary goal is to position Saudi Arabia as a global hub for cutting-edge technologies and electronics.
Alat is strategically focused on producing a diverse range of products serving both local and international markets, organized into seven key strategic business units. These encompass advanced industries and semiconductors, smart appliances, smart health, smart devices, smart buildings, and next-generation infrastructure.
Chaired by HRH Crown Prince, Alat aims to elevate the capabilities of the Saudi technology sector, amplifying its contribution to local content, enhancing the nation's appeal, and creating lucrative investment opportunities. The company's strategic partnerships with leading international players in manufacturing and technology are poised to empower the private sector, fostering a robust economic ecosystem at both local and regional levels.
Alat intends to forge partnerships that catalyze the global transformation of the industrial sector, offering sustainable solutions rooted in clean energy sources. By meeting commercial demand and aligning with the evolving needs of advanced manufacturing, Alat aims to fortify local supply chains and position Saudi Arabia as a global center for cutting-edge technological manufacturing.
With a comprehensive portfolio spanning over 30 product categories, Alat will manufacture crucial items for vital sectors, including robotic systems, communication systems, advanced computers, digital entertainment products, and heavy machinery for construction, building, and mining.
The company's vision extends to strengthening innovation, manufacturing, and research and development, with a keen emphasis on localizing expertise in the industrial and electronics sectors. Alat endeavors to create 39,000 direct jobs in Saudi Arabia by 2030 and contribute a direct non-oil GDP of $9.3 billion by the same year.
Alat is committed to providing sustainable manufacturing solutions on a global scale, leveraging clean energy resources in Saudi Arabia to achieve carbon-neutral goals by 2060. In alignment with PIF's broader vision, Alat seeks to expand strategically in priority sectors, fortify local supply chains, and contribute to economic diversification and sustainable growth, aligning seamlessly with Saudi Vision 2030.
