Alat and Lenovo Break Ground on Major New Manufacturing Facility in the Kingdom of Saudi Arabia

• Alat and Lenovo CEOs officially inaugurate the land where the new factory will be built in Riyadh
• The factory will manufacture millions of laptops and desktops, as well as servers
• The partnership between Lenovo and Alat will create up to 15,000 direct jobs and up to 45,000 indirect jobs

Alat, an innovative company focused on transforming global industries by creating a world-class manufacturing hub in the Kingdom of Saudi Arabia, and Lenovo, a global technology powerhouse, today celebrated breaking ground at the new manufacturing base in Riyadh, Saudi Arabia. The factory will be constructed on a 200,000 sqm campus site at “Riyadh Integrated” operated by Special Integrated Logistics Zone (SILZ) and will produce millions of “Saudi Made” laptops and desktops, as well as servers in a factory designed, constructed, and operated to high standards of sustainability. Today’s celebration follows the deal closing that was announced on January 8^th 2025, following shareholder and regulatory approvals, and marks the completion of the US$2 billion investment (via three-year zero-coupon convertible bonds) alongside the strategic collaboration agreement that was initially announced in May 2024.

The new manufacturing hub, which is expected to begin production in 2026, will be located just 15 minutes from Riyadh´s international airport in the Kingdom’s Special Integrated Logistics Zone (SILZ). It will complement Lenovo’s extensive manufacturing footprint of 30+ factories around the world spanning Argentina, Brazil, China, Germany, Hungary, India, Japan, Mexico, and the USA, and further increase supply chain resilience and flexibility. The new manufacturing hub will also enable Lenovo to be closer to customers in the Middle East and Africa (MEA) region. Lenovo is highly regarded for its supply chain excellence, consistently featuring as one of the world’s top supply chains, across all industries – recently being ranked by Gartner as #10 on its list of the world’s top 25 supply chains. The new factory in Riyadh will build on Lenovo’s existing presence in the region and enable the company to bring its industry-leading products, services, and solutions to market more quickly, capitalizing on the significant IT and business services industry growth momentum in the MEA region.

This partnership’s commitment to Saudi Arabia will significantly contribute to the Kingdom’s economic goals, aligning directly with PIF’s strategy and Vision 2030. It is projected to create up to 15,000 direct jobs and 45,000 indirect jobs, supporting sustainable growth and national development, with a cumulative non-oil GDP contribution of up to $10 billion by 2030. In addition, Lenovo will establish a regional Middle East and Africa headquarters (RHQ) in Riyadh, Kingdom of Saudi Arabia (KSA), to serve customers in the region and beyond, a flagship retail space, and expand investments in Research and Development (R&D) as well as marketing and strategic partnerships in both KSA and the MEA region. 

Yuanqing Yang, Chairman and CEO of Lenovo, said: “Through this powerful strategic collaboration and investment with Alat, we gain greater global presence, a strong regional foothold, and the ability to capitalize on the incredible growth momentum in KSA and the wider MEA region. We are excited to have Alat as our long-term strategic partner and are confident that our world-class supply chain capabilities as well as our innovation will benefit KSA as it drives its Vision 2030 goals of economic diversification, industrial development, innovation, and job creation.”

Amit Midha, CEO at Alat, said: “We are incredibly proud to become a strategic investor in Lenovo and partner with them on their continued journey as a leading global technology company. Alat and Lenovo have also entered a business development partnership which will leverage Alat’s extensive relationships in the region and local market insight. With the establishment of a regional headquarters in Riyadh and a world class manufacturing hub, powered by clean energy, in the Kingdom of Saudi Arabia, we expect the Lenovo team to further their potential across the MEA region.”

The Lenovo investment is one of Alat´s many planned investments by 2030 to enhance the capabilities of the technological sector, benefiting from the rapid development of this sector in Saudi Arabia. The company will also empower the private sector and enhance the commercial environment through its business systems and partnerships with leading international technology manufacturers.

Alat is innovating and creating manufacturing capabilities across nine business units, these include semiconductors, smart devices, smart buildings, smart appliances, smart health, electrification, advanced industrials, next generation and AI infrastructure. The company will manufacture products in 34 categories in nine business units. Alat has appointed some of the world´s most experienced global industry experts to lead each of the Alat business units.

About Alat

Alat is a company focused on transforming global industries (electronics and industrials) and creating a world class manufacturing hub in the Kingdom of Saudi Arabia powered by clean energy to build a better tomorrow. Alat will deliver sustainable manufacturing to help global companies reduce their emissions and move towards carbon zero manufacturing.  Alat, a PIF company, is an essential enabler of the Vision 2030 goals for economic diversification, industrial development, innovation, and job creation.

Alat´s primary goal is to ensure that global companies set up sustainable manufacturing solutions in the Saudi Arabia, benefitting from abundant green energy resources, the country´s unique geolocation and its investments in technology. Initially its key strategic business areas will be semiconductors, smart devices, smart buildings, smart appliances, smart health, advanced industrials, and next gen infrastructure technologies.  For more information visit www.alat.com ©Alat, Tomorrow Made Better.

About Lenovo

Lenovo is a US$57 billion revenue global technology powerhouse, ranked #248 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY).