Saudi Crown Prince Launches Alat
The company will support efforts to establish Saudi Arabia as a worldwide center for sustainable technology manufacturing with an emphasis on electronics.
Saudi Crown Prince Mohammed bin Salman announced the establishment of "Alat," a Public Investment Fund (PIF) firm.[1]
The company will support efforts to establish Saudi Arabia as a worldwide center for sustainable technology manufacturing with an emphasis on electronics.
Within seven main strategic business units—advanced industries, semiconductors, smart appliances, smart health, smart devices, smart buildings, and next-generation infrastructure—Alat will concentrate on producing goods for both domestic and foreign markets.
The company, which is led by the crown prince, is set to improve the Saudi technology sector's skills, boost its contribution to local content, and make the country more appealing to foreign investors.
Alat will develop alliances to provide sustainable industrial solutions based on clean energy sources.
These collaborations will strengthen local supply chains, meet commercial demand, and stay up with the demands of the future generation of manufacturing.
The company is going to produce over thirty different product categories that will cater to important industries. These include heavy machinery used in mining, building, and construction as well as robotic systems, communication systems, sophisticated computers, and digital entertainment devices.