Alat and SoftBank to build industrial robot factory in Riyadh

Alat, a new Saudi investment firm, and SoftBank Group Corp. will invest up to $150 million to establish a fully-automated manufacturing and engineering hub in Riyadh to build industrial robots, with the first factory set to open in December 2024.

“The venture will build industrial robots based on intellectual property developed by SoftBank, with the first factory set to open in December.”news.bloomberglaw.com

• 1 source
• news.bloomberglaw.comSaudi Manufacturing Push Draws SoftBank, China Surveillance FirmMatthew MartinFeb 21, 2024

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