Alat is also partnering with China's Dahua Technology and The
Saudi Technology and Security Comprehensive Control Company (Tahakom),
it said, and will support them in reducing their emissions and
moving towards carbon zero manufacturing.
Alat CEO Amit Midha, who was appointed earlier this month, also
announced the partnerships at an event in Riyadh.
Alat aims to invest $100 billion in the kingdom by 2030, and
will manufacture advanced industrials and electronics in more
than 30 product categories.
It is expected to contribute $9.3 billion to non-oil GDP by 2030
and create 39,000 direct jobs, according to its website.
Saudi Arabia's PIF, with assets of around $718 billion as of
last September, is the chosen vehicle of Saudi Crown Prince
Mohammed bin Salman, Saudi Arabia's de facto ruler, to drive the
country's ambitious plan to wean itself off oil and diversify
Midha was previously at Dell Technologies overseeing its growth
in Asia Pacific and Japan.
(Reporting by Alex Cornwell and Pesha Magid; Writing by Rachna
Uppal; Editing by Susan Fenton)
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