The Saudi sovereign vehicle also known as the Public Investment Fund, brought to light its mega tech project, as the Alat Tech Hub Unveiled at an event that was held today on 20th February in Riyadh. According to an announcement that was made on the 1st February 2024 by the Saudi Crown Prince, Alat has an aim of transforming the kingdom of Saudi Arabia into a global center for electronics and more advanced industries.
“What you see here is just the start.” Stated the chief executive officer of Alat, Amit Midha, who is also the former president of Dell Technologies of the Asia Pacific and Japan. Additionally, Midha got to underscore the power of harnessing the forces brought about the concept of artificial intelligence, sustainability, innovativeness, and the supply chain on resilience which is expected to enable the company (Alat) to be able to leapfrog and re-imagine.
“Sustainability is set to be the center of all the activities we conduct.,” Amit added, pointing out the target of Saudi Arabia to produce more than half of its electricity from renewable sources of energy by the year 2030.
Companies Involved in the Alat Tech Hub Unveiled Project
The inaugural partners of Alat Company are:
- Carrier from the United States- the inaugural partner who comes up with both smart building research and the center of development for the intelligent solutions of climate.
- Tahakom from Saudi Arabia- will be responsible for both surveillance and transport mobility.
- Softbank Group from Japan- the factory that will be in charge for the construction of next-generation robots; this plant is set to be opened in the month of December in the year 2024.
- Dahua from China- for products of surveillance for the intelligent city and also building structures.
“We expect to make the shipment of our first robot that will be made in Saudi Arabia by the time the year 2024 finishes,” Amit Midha stated.
Alat Company is expected to possess a total of seven business units that will be mainly focusing on these areas: semiconductors, artificial intelligence, next generation and advanced infrastructure and smart appliances, smart buildings, just to mention a few.
Significance of the Project
The company will be of great significance to the Kingdom of Saudi Arabia in that it will generate a total of 39,000 direct jobs and contribute to achieve a direct non-oil gross domestic product contribution of about $9.3 billion by the time 2030 reaches.
According to the Public Insurance Fund (PIF), Alat Company will be manufacturing more than 30 types of products which will be inclusive of the robotic systems, systems of communication, both the advanced computers and products of digital entertainment. Lastly, it will also manufacture, heavy machinery that will be used for construction purposes, building, and mining activities.
The goal of the company is to strengthen innovation, manufacturing and research and development sectors as well as localizing the expertise in both the industrial and electronics sectors by nurturing the local talent and enhancing availability of jobs in the region.
Alat Company has set focus on the provision of sustainable manufacturing solutions by creating the access to clean energy sources in the Kingdom of Saudi Arabia so as to attain the carbon-neutral goals by the year 2060. PIF has se its own goal of attaining carbon neutrality by the year 2050. By having the Alat Tech Hub Unveiled and implemented, Saudi will indeed become a global hub of electronics.
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