Alat Unveils New Business Units to Propel Saudi Arabia as a Global Manufacturing Hub
Riyadh’s flagship company, Alat, a key player in the Public Investment Fund, has revealed two groundbreaking business units focused on electrification and AI infrastructure. The goal? To position Saudi Arabia as a top-tier manufacturing hub on the global stage.
During the prestigious Milken Institute Conference in Los Angeles, the company laid out its strategic plans. This move is part of Alat’s vision to lead the charge in industry sustainability and elevate Saudi Arabia’s presence internationally.
CEO of Alat Global, Amit Midha, expressed enthusiasm for the new divisions, emphasizing their importance in advancing the company’s goal of creating a cutting-edge, sustainable future for the industry.
The electrification arm of Alat will strengthen grid technology to meet the rising demand for electricity, driven by the rapid growth of renewable energy sources such as solar, wind, and hydrogen. By leveraging Saudi Arabia’s clean energy resources, the company aims to develop innovative solutions that will accelerate the global energy transition and promote decarbonization.
On the other hand, the AI Infrastructure business unit will cater to the increasing global demand for AI capabilities across various industries. This involves developing state-of-the-art technologies in network and communications equipment, servers, data center networking, storage, industrial edge servers, and Industry 4.0 computing.
According to a press release, the global electrification market is projected to reach $172.9 billion by 2032, with a compound annual growth rate of 8.91%. Similarly, the global AI Infrastructure market is expected to hit $460.5 billion by 2033, driven by widespread adoption for innovation, decision-making enhancement, and task automation.
As a gold sponsor at the Milken Institute Conference, Alat now boasts nine business units dedicated to sustainable technology manufacturing. The company plans to invest $100 billion by 2030 across these units to forge strategic partnerships and establish advanced manufacturing capabilities in Saudi Arabia, creating jobs and fostering economic diversification in the Kingdom.