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.[3]
 | |
Native name | آلات |
|---|---|
| Company type | Private |
| Industry | Conglomerate |
| Founded | 1 February 2024[1] |
| Founder | Mohammed bin Salman |
| Headquarters | , |
Key people |
|
| Products | Semiconductors Consumer Electronics |
| Owner | Public Investment Fund |
| Website | alat |
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.[4]
History
editThe 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.[5]
In February 2024, Alat announced partnership with Carrier Global, Dahua Technology, SoftBank Group, and Tahakom. [6]
See also
edit
References
edit- ^ "HRH Crown Prince Launches 'Alat' to Contribute in Making Saudi Arabia a Global Hub for Electronics and Advanced Industries". Saudi Press Agency. 1 February 2024. Retrieved 1 February 2024.
- ^ "Leadership". www.alat.com. ALAT. 1 February 2024. Retrieved 1 February 2024.
- ^ Gardazi, Syed (1 February 2024). "Saudi Arabia Launches PIF Company 'Alat' To Become Global Electronics, Advanced Industries Hub". Forbes Middle East. Retrieved 1 February 2024. To cite a news
- ^ "Saudi crown prince launches 'Alat' to help turn Kingdom into electronics, advanced industries hub". Arab News. 1 February 2024. Retrieved 1 February 2024.
- ^ "Crown Prince launches PIF's 'Alat'". Argaam. 1 February 2024. Retrieved 1 February 2024.
- ^ "New Saudi investment firm teams up with SoftBank and Chinese Dahua Technology". Euro News. 22 February 2024. Retrieved 17 March 2024.