Saudi Arabian tech company Alat, owned by the Public Investment Fund (PIF), is set to invest $100 billion by 2030 and has partnered with top global firms to boost the country’s tech sector.

The new partnerships with global tech firms, Softbank Group, Carrier Corporation, Dahua Technology and Tahakom will deliver sustainable manufacturing in the kingdom, with initiatives to include setting up a $150 million plant to produce industrial robots, an R&D facility for decarbonising emissions, among many others, it said in a statement on Tuesday.

“In conjunction with our international and regional partners, the first four of which we … announce today, we will redefine sustainable manufacturing,” said Amit Midha, Global CEO of Alat.

The partnerships

As part of the agreement, Alat and Softbank Group will set up a next generation industrial automation business in Saudi Arabia that will manufacture industrial robots.

The entities will invest up to $150 million to establish a fully automated manufacturing and engineering hub that will cater to local and global demand. The plant is set to open by December 2024.

Alat will also collaborate with Carrier Corporation, a provider of intelligent climate and energy solutions, to develop a manufacturing and R&D facility in Saudi Arabia aimed at decarbonising emissions in buildings and increase energy efficiency.

The partnership, which is expected to generate more than 5,000 local jobs, will deliver advanced heating, ventilation and air conditioning (HVAC) solutions, including chillers, air handling units and variable refrigerant flow.

In another partnership, Alat and Dahua Technology, a manufacturer in the security and safety field, will invest $200 million to establish a business for vision-centric products.

Alat’s deal with Tahakom, which develops intelligent transportation systems, artificial intelligence and safety solutions, will advance smart mobility and intelligent cities solutions. The two firms will collaborate on solution designs, product specifications and leverage R&D and innovation functions.

(Writing by Cleofe Maceda; editing by Seban Scaria)