# 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.

- Type: Partnership
- Announced: 2024-02-21
- Where: Riyadh, Saudi Arabia
- Value: $150.0M
- Status: announced
- Products: industrial robots
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Alat](https://endata.com/companies/75722.md)
- [SoftBank Group](https://endata.com/companies/15862.md) (partner)

## Sources

- [news.bloomberglaw.com](https://news.bloomberglaw.com/mergers-and-acquisitions/saudis-bolster-local-manufacturing-drive-with-softbank-venture), 2024-02-21: "The venture will build industrial robots based on intellectual property developed by SoftBank, with the first factory set to open in December."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.