TKE ALAT Holds Groundbreaking for Dammam Facility
By Kaija Wilkinson | Daily News | June 11, 2026
1 min to read
A groundbreaking ceremony on June 10 in Dammam, Saudi Arabia’s Third Industrial City brought together executives from TK Elevator (TKE) and Alat — a Public Investment Fund company focused on developing manufacturing in Saudi Arabia — to mark a major step forward toward realizing the TKE ALAT joint venture (JV) established by TKE and Alat in August 2025. The JV plans to invest approximately US$76 million in an entirely new multipurpose manufacturing facility to support local manufacturing and address growing demand for urban mobility across the wider Middle East and North Africa region. Contributing to Saudi Arabia’s Vision 2030 objectives, the 40,000-m2 facility is expected to be the first elevator and escalator manufacturing operation in Saudi Arabia by a global company, and TKE’s first in the world to manufacture low-, mid- and high-rise elevators, as well as escalators, under one roof.