PIF’s Alat to build robot factory as part of $100bn plan

Reuters/China Daily

Alat, a Public Investment Fund-backed technology manufacturing company, intends to invest $100 billion by 2030.

The company struck deals this week to create factories to build industrial robots and surveillance products.

Alat has partnered with international technology companies such as Japan’s Softbank Group, US-headquartered Carrier Corporation, China’s Dahua Technology and Saudi Technology and Security Comprehensive Control Company (Tahakom) to promote carbon-zero manufacturing.

• PIF’s Alat to boost Saudi economy by $9.3bn
• US-Saudi venture will use AI to analyse space data
• Saudi Arabia joins the dots from minerals to manufacturing

Alat’s mandate is focused on harnessing the kingdom’s solar, wind and green hydrogen clean energy, global CEO Amit Midha said, adding the company is working to “redefine sustainable manufacturing”.

The agreement with Softbank includes an investment of up to $150 million to establish a fully automated factory to manufacture industrial robots. The plant is expected to open by December 2024.

Air conditioner maker Carrier and Alat will develop a manufacturing and R&D facility in the kingdom aimed at decarbonising building emissions and increasing their energy efficiency. The company will produce advanced heating, ventilation, and air conditioning (HVAC) solutions, which will create more than 5,000 jobs.

In partnership with China’s Dahua Technology, Alat will invest $200 million to establish a manufacturing facility in Saudi Arabia to develop safety and surveillance use products applicable in intelligent cities and buildings, as well as enterprise applications. The companies will cooperate and support with technology enablement, testing labs and demo centres.   

Tahakom, which develops intelligent transportation systems, artificial intelligence and safety solutions, will join hands with Alat to advance smart mobility and intelligent cities solutions.  

Earlier this month Alat, which is chaired by Crown Prince Mohammed bin Salman, said it plans to generate 39,000 jobs in the kingdom and achieve a direct non-oil GDP contribution of $9.3 billion by 2030.