Riyadh, March 4, 2024 – Alat, a PIF company, and King Abdulaziz City for Science and Technology (KACST) today signed a partnership agreement to support the development of the semiconductor industry in Saudi. The agreement will contribute to achieving the goals of Saudi Vision 2030 to grow and diversify the national economy of Saudi Arabia and make the Kingdom a global center for the strategic semiconductor industry.

The partnership agreement was signed at LEAP 2024 by His Excellency the President of KACST, Dr. Muneer bin Mahmoud Al-Dosouqi, and Mr. Amit Midha, CEO of Alat.

The strategic partnership between KACST and Alat will support national goals for research, development, and innovation in the energy and industry sectors, through the localization of the semiconductor industry, and by fostering collaboration in developing human resources for the sector.

The agreement with KACST will be led by Alat’s Semiconductor Business Unit, which is responsible for development and manufacturing of semiconductors in three key technology segments: Power, Perception, and Processing.

Alat will provide support through industrial facilities and manufacturing solutions, drawing on Alat’s own advanced manufacturing hub that is being established in Saudi Arabia. Alat will work closely with KACST on talent development, to foster the skilled workforce required for semiconductor operations, and will also leverage’s KACST’s advanced technology facilities for joint research and training. Alat’s engagement with KACST on the IC design cluster is part of Alat’s participation in the National Strategy for Semiconductors and its wider commitment to support Saudi Vision 2030, to develop sustainable advanced industries powered by clean energy, create new jobs in the technology and electronics sectors, and capitalize on economic growth opportunities in the region.

His Excellency the President of KACST, Dr. Muneer bin Mahmoud Al-Dosouqi, emphasized that the strategic partnership with Alat will contribute to supporting the semiconductor ecosystem in the Kingdom by enhancing research, development, and innovation, laying the foundations for designing and manufacturing semiconductors , providing sustainable industrial solutions based on clean energy sources, and developing the national workforce in the targeted sectors for localizing the semiconductor industry.

Amit Midha, CEO at Alat, said: “Alat is proud to be collaborating with KACST to support the development of the semiconductor industry. 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, we will play an essential role in the creation of Saudi Arabia’s own semiconductor industry.”