Riyadh – Mubasher: Alat, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), signed a partnership agreement with King Abdulaziz City for Science and Technology (KACST) to support the development of the semiconductor industry in the kingdom.
The agreement will help turn Saudi Arabia into a global centre of strategic semiconductor industry, contributing to the realisation of Saudi Vision 2030 regarding boosting economic growth and diversification.
The agreement was signed at the third edition of the global tech event LEAP 2024. The four-day event kicks off in Riyadh between 4 and 7 March with the attendance of more than 172,000 regional and international tech professionals, along with over 1,800 global tech exhibitors.
The strategic partnership between KACST and Alat will support national goals in energy, industry, and semiconductor development. Alat will help localize chip production through its power, perception, and processing units.
Alat will utilize its advanced Saudi manufacturing hub to aid KACST. It will develop talent with KACST and leverage the institution's technology facilities for joint research and training.
Muneer bin Mahmoud Al-Dosouqi, President of KACST, stated that the partnership with Alat will contribute to supporting the semiconductor ecosystem in Saudi Arabia by enhancing research, development, and innovation.
Amit Midha, CEO at Alat, said: “Alat aims to enable the establishment of next generation industry in Saudi Arabia, and by partnering with a renowned institution such as KACST, with its deep expertise in advanced technologies and talent development.”
