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A shot in the arm for sustainable tech manufacturing: Alat, the new advanced manufacturing investment platform launched by the Public Investment Fund (PIF), announced four new global partnerships under a plan to create a sustainable manufacturing hub in the Kingdom, it said in a statement yesterday. Alat plans to invest USD 100 bn through 2030.
A breakdown of the partnerships:
#1- Industrial robots with Softbank: Alat will invest USD 150 mn with Japanese technology investment giant Softbank to create an industrial automation venture that will manufacture advanced industrial robots. The fully automated manufacturing and engineering hub will cater local and global demand. It is set to open in December of this year, according to the statement.
#2- And another with Dahua Technology: Alat will invest USD 200 mn with Chinese surveillance technology firm Dahua Technology to manufacture surveillance hardware through a joint venture. They will “produce and market solutions for safety and surveillance use” in smart cities, it added.
#3- A manufacturing facility with Carrier: Alat will develop a manufacturing and research and development facility here with air conditioner maker Carrier. Its production will include advanced heating, ventilation and air conditioning solutions with the aim of increasing energy efficiency and curbing emissions.
#4- Tahakom is in, too: Alat will partner up with Saudi Technology and Security Comprehensive Control Coman (Tahakom) to accelerate smart mobility and smart cities solutions. Tahakom provides intelligent transport systems, AI, and advanced safety solutions.
Paving the way for sustainable manufacturing: “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,” Alat Global CEO Amit Midha said.
We’re not tech buyers, but producers: “Saudi Arabia is no longer going to buy the technology. It is going to be building the technology,” Industry and Resources Minister Bandar Alkhorayef said in Alat’s event in statements picked up by Reuters.
About Alat: The PIF unit was set up earlier this month with focus on seven sectors, including “advanced industries and semiconductors, smart appliances, smart health, smart devices and smart buildings, in addition to next generation infrastructure.” It aims to contribute USD 9.3 bn in direct non-oil GDP by 2030 and create 39k jobs, according to its website.
