- Source: Alat (company)
Alat (styled ALAT; Arabic: آلات) is a conglomerate based in Saudi Arabia. The company, which is owned by the Saudi Public Investment Fund, was founded in February 2024 by Crown Prince Mohammed bin Salman. Alat manufacturing will focus on 7 main business units: semiconductors, advanced industries, smart appliances, smart health, smart devices, smart buildings, and next-gen infrastructure.
As part of Saudi Vision 2030 goals to diversify the Saudi economy, Alat aims to create 39,000 jobs, in addition to contributing $9.3 billion to the GDP by the year 2030.
History
The company was officially launched by the Saudi Crown Prince Mohammed bin Salman on 1 February 2024 as one of the various companies founded by the Saudi Public Investment Fund to diversify Saudi Arabia's economy away from oil.
In February 2024, Alat announced partnership with Carrier Global, Dahua Technology, SoftBank Group, and Tahakom.
See also
List of Saudi Vision 2030 Projects
Saudi Vision 2030
Public Investment Fund
References
External links
Official Website
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