The new TKE ALAT investment of 285 million SAR will establish an industrial complex in Dammam. Specifically, the facility will manufacture elevators and escalators in the Third Industrial City. Consequently, this project marks the first manufacturing facility of its kind in Saudi Arabia managed by an international company. Additionally, leaders from both organizations attended the groundbreaking ceremony to initiate construction.
Details of the Dammam Facility
The facility spans an area exceeding 40,000 square meters. Meanwhile, construction is scheduled for completion by the end of 2027. Notably, the site will feature a product development center and a specialized training facility. This training facility will complement the existing SEED Campus network.
The construction work is being executed by Advance Construction Solutions Company for Projects, also known as ZODCON. This company is a subsidiary of Advanced Construction Industries.
Regional Technical Support Hub
In addition to manufacturing, the company plans to establish an international technical services center. This hub will provide technical support and maintenance services across the region. Furthermore, the services will operate under the TKE Universal Service framework.
“This facility will be the first TKE site globally to manufacture low, medium, and high-rise elevators alongside escalators under one roof.”
Erkan Kilic, Chief Executive Officer of TK Elevator Middle East
Strategic Goals of the TKE ALAT investment
This TKE ALAT investment aligns with local manufacturing goals. Moreover, the project supports the economic objectives of Saudi Vision 2030. Dr. Mohammed Al-Dawood, Acting Chief Executive Officer of Alat, stated that the complex will develop local capabilities. As a result, the facility will serve both Saudi Arabia and the wider Middle East.
Background of the Joint Venture
The TKE ALAT investment represents a major step for the joint venture. Notably, the partnership was established in August 2025 with a total value of 160 million EUR. Alat, owned by the Public Investment Fund, focuses on advanced manufacturing. Meanwhile, TK Elevator recorded sales of 9.2 billion EUR in the 2025 fiscal year.
The company employs approximately 50,000 people globally. Additionally, it operates more than 1,000 service centers worldwide. TK Elevator has operated as an independent entity since its separation from thyssenkrupp in 2020.
The joint venture aims to address the growing demand for urban mobility solutions in the region. Consequently, the Dammam facility will serve as a central hub for these operations. Furthermore, the project will create specialized jobs in engineering, manufacturing, and logistics.
