RIYADH: Alat, a subsidiary of the Saudi Public Investment Fund, is set to initiate production of personal computers and servers at its new factory in Riyadh, according to the company's CEO, Amit Midha.

Speaking during the Future Investment Initiative conference, Midha confirmed that manufacturing will commence once the facility becomes operational, with smartphone production expected to begin subsequently.The development of this factory, a collaborative effort between Alat and Lenovo, is integral to Saudi Arabia's plans for localizing high-tech manufacturing.

The CEO highlighted the significance of this initiative in supporting the nation’s industrial strategy, aiming to reduce reliance on imported goods and foster economic diversification.Midha further elaborated on another joint venture, valued at €160 million ($186 million), between Alat and TKE.

This partnership focuses on establishing a production line for elevators and escalators by 2026.

Such technology not only promises enhanced mobility solutions but also aligns with projected growth in the Saudi elevator market, anticipated to reach $1.84 billion by 2030, as per Markets and Data.Alat, established in 2024, is dedicated to transforming various sectors including semiconductors, smart devices, advanced industrials, and next-generation infrastructure.

The company aims to contribute approximately $9.3 billion to the Kingdom's non-oil GDP by 2030 through localization efforts across these strategic areas.

Additionally, Alat is currently developing projects focused on AI infrastructure, electrification, and energy transition, playing a critical role in supporting Saudi Arabia’s technological advancement.Midha emphasized that the company is committed to building local capabilities within the supply chain, fostering talent development, and supporting the nation's technology ecosystem.

By doing so, Alat aims to reduce reliance on imports and accelerate the Kingdom's transformation into a tech-driven economy.