Alat, headquartered in Riyadh, has been established to create a worldwide champion in electronics and superior industrial segments and mandated to create world class manufacturing enabled by world innovation and expertise management.
Riyadh, February 20, 2024 – Alat, a PIF firm launched on February 1, 2024 by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Chairman of the Board of Administrators of Alat, has at present introduced the institution of a strategic partnership with SoftBank Group Corp. (“SoftBank Group”) to ascertain a subsequent era industrial automation enterprise within the Kingdom of Saudi Arabia that may manufacture groundbreaking industrial robots.
Alat, headquartered in Riyadh, has been established to create a worldwide champion in electronics and superior industrial segments and mandated to create world class manufacturing enabled by world innovation and expertise management. With an allotted funding funds of US$100 billion, Alat is partnering with world expertise leaders to rework industries whereas establishing world class companies within the Kingdom, powered by clear power.
At this time, Alat is proud to announce the creation of a three way partnership (“JV”) with SoftBank Group that may manufacture industrial robots for all kinds of commercial manufacturing and meeting processes that may radically rework manufacturing. The companions will make investments as much as US$150 million to ascertain a totally automated manufacturing and engineering hub in Riyadh that may serve native and world demand. The primary manufacturing unit is focused to open in December 2024.
Amit Midha, CEO of Alat, mentioned: “We would like this to be the beginning of a gamechanger for manufacturing around the globe. Along with SoftBank Group, we see an immense market alternative for robotics each within the Kingdom, the Gulf, and globally. With this preliminary set-up, we predict a contribution of 1 billion {dollars} to Saudi Arabia GDP by 2025. Our ambition is to basically rework industrial manufacturing by robots, manufactured within the Kingdom.”
Masayoshi Son, Chairman and CEO of SoftBank Group, mentioned: “The mix of Saudi Arabia’s imaginative and prescient, financial progress, and main logistics location coupled with ample entry to inexperienced power and Alat’s mandate to fabricate sustainably, made this strategic partnership between us very compelling. At this time’s announcement marks a historic milestone for the way future manufacturing will happen.”
The brand new JV will construct industrial robots primarily based on mental property developed by SoftBank Group and its associates that may carry out duties with minimal further programming, which can be ideally suited to industrial meeting and functions in manufacturing and manufacturing. The robotic manufacturing manufacturing unit that the JV will create within the Kingdom is a lighthouse manufacturing unit, that may use the most recent expertise to fabricate unprecedented subsequent era robots to carry out all kinds of duties.
By 2030, Saudi Arabia’s in depth infrastructure investments would be the basis to speed up the adoption of Fourth Industrial Revolution functions within the Kingdom, enhancing provide chains and logistics. By 2035, some 32,000 factories are anticipated to be working within the nation powered by clear power and enabled with forefront expertise. Saudi Arabia is without doubt one of the most intense daylight areas on the planet receiving round 105 trillion kilowatt hours a day, which is equal to 10 billion barrels of uncooked oil in power phrases. Alat is targeted on remodeling manufacturing making it carbon zero manufacturing, with sustainability on the coronary heart of all the pieces. For extra data, please go to Alat’s web site: https://www.alat.com/en/
About Alat Alat is an organization targeted on remodeling world industries (electronics and industrials) and making a world class manufacturing hub within the Kingdom of Saudi Arabia powered by clear power to construct a greater tomorrow. Alat will ship sustainable manufacturing to assist world corporations scale back their emissions and transfer in direction of carbon zero manufacturing. Alat, a PIF firm, is a necessary enabler of the Imaginative and prescient 2030 objectives for financial diversification, industrial growth, innovation, and job creation.
Alat’s main aim is to make sure that world corporations arrange sustainable manufacturing options within the Kingdom of Saudi Arabia, benefitting from ample inexperienced power assets, the nation’s distinctive geolocation and its investments in expertise. Initially its key strategic enterprise areas shall be semiconductors, sensible units, sensible buildings, sensible home equipment, sensible well being, superior industrials and subsequent gen infrastructure applied sciences. For extra data go to www.alat.com ©Alat, Tomorrow Made Higher.
About SoftBank Group The SoftBank Group invests in breakthrough expertise to enhance the standard of life for individuals around the globe. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an funding holding firm that features stakes in AI, sensible robotics, IoT, telecommunications, web companies, and clear power expertise suppliers, in addition to a majority stake in Arm Holdings plc, which is constructing the way forward for computing; and the SoftBank Imaginative and prescient Funds and SoftBank Latin America Funds, that are investing greater than US$160 billion to assist extraordinary entrepreneurs rework industries and form new ones. To be taught extra, please go to https://group.softbank/en.