TKE Alat, a joint venture between TK Elevator and Alat, a Saudi Arabian manufacturing company, today (June 10) announced the groundbreaking of its planned elevator and escalator manufacturing and multi-purpose facility at Dammam's Third Industrial City, thus marking a significant milestone in advanced manufacturing capabilities in Saudi Arabia.

Formerly known as ThyssenKrupp Elevator, TK Elevator is one of the world's leading elevator firms headquartered in Düsseldorf, Germany, while Alat is a company dedicated to transforming global industries and creating a world-class manufacturing hub in Saudi Arabia.

The joint venture plans to invest approximately SAR285 million ($75.2 million) in the facility.

Spanning more than 40,000 sqm area, the site is set to be the first elevator and escalator manufacturing operation in Saudi Arabia by a global company.

The development advances the €160 million ($184 million) joint venture established by TKE and Alat in August 2025 to address growing urban mobility demand across Saudi Arabia and the wider Mena region, contributing to the kingdom's industrial development goals under Saudi Vision 2030.

"Today, we marked a major milestone for Alat with the groundbreaking of TKE-Alat's new facility in Dammam's Third Industrial City," said a spokesperson for the company.

The 40,000 sq m facility will be TKE-Alat's first globally to manufacture low, mid, and high-rise elevators, alongside escalators, under one roof, he added. 

Set for completion by the end of 2027, the site will house a product development centre, training academy and regional technical services hub beyond manufacturing, said Alat in its statement.

It is mainly aimed at strengthening local capabilities, creating high-skilled jobs, and advancing Saudi Arabia's industrial ambitions, it added.-TradeArabia News Service