Completion of $2 Billion Deal Confirmed by Alat and Lenovo

Lenovo has announced a transformative $2 billion investment in Saudi Arabia, signifying a major step in its strategic growth across the Middle East and Africa (MEA) region. This initiative focuses on the creation of a state-of-the-art, sustainable manufacturing facility within Saudi Arabia, which will serve as a critical hub for Lenovo’s regional operations. By 2026, this facility is expected to produce “Saudi-Made” products, contributing to the Kingdom’s aspirations to become a global leader in advanced technology and manufacturing. This move aligns with Saudi Arabia’s Vision 2030, an ambitious plan aimed at economic diversification, innovation, and sustainability.

The investment is projected to create thousands of new jobs in Saudi Arabia, directly supporting the Kingdom’s economic development. Lenovo’s enhanced manufacturing and supply chain capabilities will cater to the growing demand for technology solutions in the MEA region. Additionally, the collaboration seeks to expand Lenovo’s research and development (R&D) activities, retail presence, and strategic partnerships, setting the stage for the company to tap into emerging market opportunities and establish a stronghold in the region.

The collaboration was initially announced in May 2024 and has since secured all necessary shareholder and regulatory approvals, enabling its full-scale execution. For Lenovo, this partnership represents a significant opportunity to deepen its presence in one of the fastest-growing technology markets while advancing its global transformation goals. It also enables Saudi Arabia to move closer to its Vision 2030 targets by reducing dependence on oil revenues, fostering industrial growth, and building an innovation-driven economy.

A central feature of the agreement is the establishment of a sustainable manufacturing facility powered by clean energy. This facility is a testament to Lenovo’s commitment to sustainability and innovation, ensuring that its products meet the highest quality standards while minimizing environmental impact. By integrating cutting-edge technologies into its production processes, Lenovo aims to set new benchmarks for sustainable manufacturing practices in the region and globally.

The partnership has received high praise from both parties. Yuanqing Yang, Chairman and CEO of Lenovo, described the collaboration as a pivotal moment for the company. He highlighted how the agreement provides Lenovo with the resources and flexibility to accelerate its growth in Saudi Arabia and the broader MEA region. Yang also emphasized the role of Lenovo’s world-class supply chain and manufacturing capabilities in supporting Saudi Arabia’s Vision 2030 goals, particularly in areas such as economic diversification, industrial development, and job creation.

Amit Midha, CEO of Alat, expressed immense pride in the partnership, calling it a significant milestone in Lenovo’s journey as a global technology leader. He underscored the importance of the new regional headquarters in Riyadh and the advanced manufacturing hub in driving Lenovo’s growth in the MEA region. Midha emphasized the shared commitment to innovation and economic progress, noting that the collaboration will unlock new opportunities for both parties while contributing to the Kingdom’s development objectives.

This strategic collaboration not only supports Lenovo’s expansion but also advances Saudi Arabia’s Vision 2030 agenda by fostering economic diversification, job creation, and technological innovation. The investment will empower local talent, create sustainable economic opportunities, and position Saudi Arabia as a global hub for technology and manufacturing. It also highlights Lenovo’s dedication to driving innovation responsibly while meeting the unique needs of regional markets.

The partnership between Lenovo and Saudi Arabia is a forward-looking endeavor with far-reaching implications. It underscores the Kingdom’s growing importance as a global technology leader and Lenovo’s commitment to driving sustainable growth through strategic investments. Together, Lenovo and its Saudi partners are paving the way for a future that prioritizes innovation, sustainability, and economic prosperity, setting a new standard for collaboration in the global technology industry.