ALBAWABA – New Saudi Arabia firm has announced the appointment of Amit Midha, previously president for Asia Pacific and Japan Global Cities at Dell Technologies, as Chief Executive Officer to lead Alat, a newly established technological advancement company backed by a $100 billion in capital investments from the Public Investment fund, which has been putting focus on funding advanced project with a $700 billion budget in line with the kingdom’s 2030 plan to diversify economical income.
Alat is described by Midha in a recent statement as an enterprise dedicated to transforming top international corporations and creating a sustainable electronics and industrial center of excellence in Saudi Arabia, focusing on renewable energy by taking advantage of the kingdom’s wind, solar, and environmentally friendly hydrogen energy as well as high-end technologies like Artificial Intelligence and Smart Devices for its products line-up.
Midha also emphasized the significance of incorporating Industry 4.0 standards and cutting-edge AI technologies to improve business transformation, sustainability, and operational efficiency, the CEO who led over multi-billion businesses across 40 countries, advocated for a comprehensive approach to sustainability that encompasses supply chains, constructions, shipping, and operations.
According to Bloomberg, Alat is scheduled to formally launch operations on February 20 and announce its initial round of investments. The company, which will be chaired by Crown Prince Mohammed bin Salman, intends to ink agreements with major global players and invest in major industrial companies that the kingdom favors establishing local operations.
