Saudi Arabia has announced plans to create 39,000 technology and manufacturing jobs with the launch of new company, Alat.
The PIF-backed firm will contribute $9.3bn to the Kingdom’s non-oil GDP by 2030 as Saudi Arabia looks to become a global hub for sustainable technology manufacturing.
Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia and Chairman of the Board of Directors of the Public Investment Fund (PIF), has announced the launch of “Alat”.
Saudi Arabia announces Alat
The PIF-backed company will be a national champion that will contribute to the aim of making Saudi Arabia a global hub for sustainable technology manufacturing that focuses on advanced technologies and electronics.
Alat will focus on manufacturing products that serve local and international markets within seven key strategic business units: advanced industries and semiconductors, as well as smart appliances, smart health, smart devices and smart buildings, in addition to next generation infrastructure.
The company, chaired by the Crown Prince, aims to enhance the capabilities of the Saudi technology sector, increase its contribution to local content – benefiting from the rapid development of this sector – increasing the nation’s attractiveness and its ability to create investment opportunities.
Alat will also enable the private sector through its strategic partnerships with leading international players in manufacturing and technology, which will enhance the economic ecosystem locally and regionally.
The company will build partnerships to enable the transformation of the industrial sector globally, by providing sustainable industrial solutions based on clean energy sources.
These partnerships will help meet commercial demand, keep pace with the needs of the next generation of manufacturing, enhance the strength of local supply chains and contribute to making Saudi Arabia a global centre for advanced technological manufacturing.
Alat will manufacture more than 30 product categories that will serve vital sectors.
These include:
- Robotic systems
- Communication systems
- Advanced computers and digital entertainment products
- Advanced heavy machinery used in construction, building and mining
The company aims to strengthen innovation, manufacturing and research and development, and localise expertise in the industrial and electronics sectors by developing local talent and enhancing job opportunities.
Alat aims to create 39,000 direct jobs in Saudi Arabia by 2030, and achieve a direct non-oil GDP contribution of $9.3bn by the same year.
Alat will focus on providing sustainable manufacturing solutions for international companies by accessing clean energy resources in Saudi Arabia to reach carbon neutral goals by 2060 in addition to enabling those global industrial companies to benefit from the competitive advantages of the Saudi economy, its unique geographical location and its investments in the technology sector.
PIF’s own goal is to be carbon neutral by 2050.
The establishment of Alat aligns with PIF’s strategy to expand in sectors that are priorities, while strengthening local supply chains to enable economic diversification and sustainable growth – in line with Saudi Vision 2030.
Follow us on
