ALAT Company, Step toward Advanced Industries
"Saudi Arabia will no longer buy technology. It will build technology"
Bandar Al-Kharif, the Saudi Minister of Industry and Resources
Establishing “ALAT”
ALAT Company is associated with the Public Investment Fund and was founded in 2022.
His Highness the Crown Prince Mohammed bin Salman serves as the chairman of the board of directors. Its goal is to establish the Kingdom of Saudi Arabia as a hub for cutting-edge advanced industries both locally and globally.
ALAT concentrates on cutting-edge electronics and advnced technologies, and by 2030, it is going to invested $100 billion in the Kingdom in producing advanced industries and electronics.
"ALAT" domains :
1- Advanced industries, such as 3D printing, robotics, and AI
2- Semiconductor chips: Electronic chip design and manufacturing.
3- SMART House Appliances: Create and produce intelligent household appliances.
4- SMART Health: Creating solutions for smart health.
5- Consumer electronics: This group comprises , cellphones, and PCs.
6- SMART buildings: creating solutions for smart buildings
7- Building digital infrastructure (communications, transportation, etc.) is the next generation of infrastructure.
"ALAT" objectives:
1- The Kingdom develops into a hub for sustainable industries on a regional and international scale, with an emphasis on electronics and sophisticated technologies.
2- An annual budget revenue of 36 billion riyals, or $100 billion, by 2030.
3- The creation of almost 39,000 new jobs.
4- Achieving "zero neutrality," as striking a balance between the quantity of greenhouse gas emissions and their removal from the atmosphere, as of reducing cause global warming. It is one of the 2015 Paris Climate Agreement's objectives, and the Kingdom hopes to achieve it before 2050 by using the circular carbon economy strategy.
100 billions dollars invested
By 2030, ALAT hopes to have invested $100 billion in the Kingdom, and it has recently inked four agreements with:
1. Group SoftBank
With plans to open in December 2024, the group was awarded a contract worth up to $150 million to create a manufacturing and engineering facility that will produce robots with intellectual property generated by the firm and its subsidiaries, catering to both domestic and international demand.
2. Carrier Corporation Co.
In order to lower carbon emissions in buildings and increase energy efficiency, the contract in advanced manufacturing, research and development uses state-of-the-art methods for heating, ventilation, and air conditioning.
Additionally, centers for advanced manufacturing and R&D was agreed upon, and it is anticipated that this facility will create up to 5,000 job possibilities.
3. Dahua Technology Co.
The company operates globally and offers services and solutions for video systems that utilize AI technology.
The strategic collaboration will involve the localization of the following industries within the Kingdom:
• A factory that uses AI technologies to develop optical equipment.
• Sensors for "SMART cities" .
• Founding an R&D center for research.
4.TAHAKOM Co.
ALAT and TAHAKOM "Saudi Company for Technical and Comprehensive Security Control" (Tahkam) entered into a contract to create SMART mobility solutions in smart cities powered by AI and cutting-edge safety solutions.
Epilogue
The creation of "ALAT" is compliant with the directives of His Highness Prince Mohammed bin Salman, who formulated the strategy for the Public Investment Fund. This strategy calls for strengthening local and regional supply chains sequentially in order to achieve sustainable growth in line with the 2030 vision, as well as expanding in areas related to advanced industries and giving them priority locally and globaly.
Farhan Hassan Al Shammari
Twitter: @farhan_939
E-mail: fhshasn@gmail.com
