Saudi Arabia’s Alat Boosts Sustainable Manufacturing Capabilities

Alat is a company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia powered by clean energy. SPA
Alat is a company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia powered by clean energy. SPA
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Saudi Arabia’s Alat Boosts Sustainable Manufacturing Capabilities

Alat is a company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia powered by clean energy. SPA
Alat is a company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in the Kingdom of Saudi Arabia powered by clean energy. SPA

Alat, a PIF company focused on transforming global industries (electronics and industrials) and creating a world-class manufacturing hub in Saudi Arabia, has announced the launch of two new business units - Electrification and AI Infrastructure.

Alat made the announcement in a press release on Monday. It said the two business units will address unprecedented global demand for AI infrastructure and the urgent need to support global energy transition by strengthening electricity grid technology.

Electrification is a key goal for Alat to not only strengthen grid technology for robust and increased use of technology, but also as the growth of electricity grows exponentially, with electricity being the key energy produced by solar, wind and hydrogen clean energy to power industrial processes, it said.

By combining Saudi Arabia’s rich resources of solar energy and other clean energy sources with electric powered industrial systems, Alat intends to manufacture solutions that will contribute significantly to the global energy transition and the decarbonization of industry, the statement added.

According to the statement, the Electrification business unit will focus on transmission and distribution technologies. It will also include the connection of renewable energy sources to the grid and latest technologies for gas and hydrogen generation and compression.

The AI Infrastructure business unit is focused on the technology necessary for AI capabilities and encompasses network and communications equipment, servers, data center networking equipment, data center storage, industrial edge servers, and industry 4.0 computing, said Alat.

The adoption of AI in combination with other industry 4.0 technologies, including robotics, will enable a leap forward in smart manufacturing and the creation of intelligent factories. The AI Infrastructure Business Unit will not only manufacture solutions for Alat customers but will also contribute to Alat’s advanced technology goals, it added.

"I am pleased to announce these two exciting new divisions as they will make a significant contribution to Alat’s overall strategic goal of developing an advanced, sustainable future for industry,” the statement quoted Global CEO at Alat Amit Midha as saying.



Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF Completes $7 bln Inaugural Murabaha Credit Facility

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

Saudi Arabia's Public Investment Fund (PIF) completed on Monday a $7 billion inaugural murabaha credit facility.
In a statement, PIF said the credit facility is supported by a syndicate of 20 international and regional financial institutions.
PIF head of the Global Capital Finance Division and head of Investment Strategy and Economic Insights Division Fahad AlSaif said: “This inaugural murabaha credit facility demonstrates the flexibility and depth of PIF’s financing strategy and use of diversified funding sources, as we continue to drive transformative investments, globally and in Saudi Arabia”, the Saudi Press Agency reported on Monday.
This financing complements PIF’s successful sukuk issuances over the past two years, the statement added. It also underpins PIF’s strong financial position, as well as its best-practice approach to debt financing.
PIF is rated Aa3 by Moody’s with stable outlook and A+ by Fitch with stable outlook. PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.