Alat and Dahua partner on products and solutions for Saudi Arabia

RIYAHD – Alat, a public investment fund company, and Dahua Europe B.V. {"Dahua"), a subsidiary of Dahua Technology, announced a strategic partnership to establish an artificial intelligence (Al) powered business in the Kingdom of Saudi Arabia.

According to a press release the new business venture, Alat AIVisio Technology Co. Ltd. {"AIVisio"), will produce and market products and solutions for safety and surveillance use that are applicable in Intelligent Cities, as well as Intelligent Buildings and Enterprise applications. Alat was established on February 1, by His Royal Highness Prince Mohammed bin Salman Abdulaziz Al Saud, Crown Prince and Prime Minister, Chairman of the Board of Directors of Alat.

"This is an important long-term relationship for our business,” Dahua's CEO, Jason Zhao said. “By establishing a highly automated next generation manufacturing hub in the Kingdom, we will be able to enhance our offerings and become the trusted partner for customers across the world. The excellent logistical position of Saudi Arabia, unlimited access to clean energy and our joint vision to manufacture sustainably makes this a true win-win partnership."

Amit Midha, Chief Executive Officer of Alat, added: "Alat is proud to partner with Dahua, a world leader in video-centric AloT solutions. We have great ambitions to take Intelligent Cities and Smart Enterprise solutions, made in the Kingdom, to both local and international markets. Dahua's mission coincides well with our goal to drive and execute on a vision of creating global sustainable technology, manufactured in the Kingdom."

Alat and Dahua said this partnership marks an important milestone in the Kingdom's Vision 2030, building the world's next generation manufacturing hub, fueled by clean energy. The partners are committed to investing US$200M in the business to establish a fully automated, state-of-the- art electronics manufacturing hub. AIVisio will be majority owned and controlled by Alat.