Industry

Lenovo, the renowned Chinese computer manufacturer, unveiled its new strategic alliance with Alat, an entity under Saudi Arabia's Public Investment Fund dedicated to pioneering tech investments and eco-friendly manufacturing. Alat has proposed investing $2 billion in zero coupon convertible bonds in Lenovo. The collaboration will establish Lenovo's Middle East and Africa (MEA) regional headquarters in Riyadh, which will feature a...

Lenovo Group Limited has unveiled plans for a substantial expansion in Saudi Arabia, which includes the creation of a technology and manufacturing center. This development comes as a part of a Strategic Collaboration Framework Agreement with Alat, an enterprise under the Public Investment Fund (PIF).The initiative is set to bolster Lenovo's international stature while promoting the Kingdom's transition to eco-conscious...

KAOUN International, in collaboration with MODON, has announced the debut of a landmark industrial summit, the World Advanced Manufacturing & Logistics Summit & Expo (WAM), scheduled for November 11-12, 2024 at the Fairmont Riyadh. The WAM Summit aims to unite Saudi Arabia's key influencers shaping the nation's Industry 4.0 revolution with thought leaders from various key manufacturing sectors. The event...

Saudi Arabia has sustained its momentum in the industrial sector by issuing over 300 industrial licenses in the first quarter of 2024, mirroring the figures from the previous year, as per the latest government data.An official announcement from the Kingdom's Ministry of Industry and Mineral Resources highlighted that a total of 324 industrial permits were granted between January and March,...

A landmark opportunity has arisen for manufacturers worldwide to immerse themselves in Saudi Arabia's rapidly expanding industrial realm, promising engagement with one of the globe's most swiftly evolving manufacturing and logistics epicenters.Announced by KAOUN International and their Strategic Partner MODON, the World Advanced Manufacturing & Logistics Summit & Expo (WAM) is slated to premiere at the Fairmont Riyadh from November...

An expanded partnership in the aerospace sector is on the horizon as Saudi Arabia contemplates the local production or assembly of Embraer airliners, a result of a recent memorandum of understanding (MOU) signed in Riyadh. The National Industrial Development Center (NIDC), the AHQ Group—an industrial conglomerate in the country—and the Brazilian aerospace company Embraer have all expressed their intent to...

The Kingdom of Saudi Arabia is engrossed in the development of its helicopter manufacturing capabilities, aligning with its ambitious Vision 2030 industrialization plan.A host of global entities have signaled their willingness to align with Saudi Arabia in this venture.It is anticipated that the Saudi Arabian Military Industries (SAMI) will be at the forefront of this initiative.Insights into several key dimensions...

SEDCO Capital, a leading asset management and investment advisory firm focused on Shariah-compliant and environmentally and socially conscious investing, has proudly announced the initiation of its public offering for the SC Multi Asset Fund. This closed-end investment fund, with aspirations to gather between SAR 300 million and SAR 1 billion, is slated for listing on the Saudi Exchange's primary market.The...

Larsen & Toubro has announced that its wholly-owned subsidiary, L&T Valves Ltd, has inaugurated a new manufacturing facility in Saudi Arabia. The establishment is strategically situated near Al Jubail, along the Dammam-Abu Hadriyah Highway.As a major provider of on-off valves to the Saudi market, L&T Valves aims to boost its local production capacity with this initiative. The move is designed...

Saudi Venture Capital (SVC) has committed to a substantial $30 million infusion into a private equity fund operated by the esteemed American investment entity, General Atlantic. With a legacy beginning in 1980, General Atlantic has solidified its reputation as a foremost investor in growth equity, boasting a portfolio of $84 billion in managed assets. The investment fund will channel funds...