Saudi fund to spend SAR 3 bln on digital transformation of local factories

23/03/2019 Argaam

 

Saudi Industrial Development Fund (SIDF) has allocated SAR 3 billion over three years to help 100 factories adopt the fourth industrial revolution (4IR) technologies, Al-Yaum newspaper reported.

 

The digital transformation program was launched in partnership with the Saudi Authority for Industrial Cities and Technology Zones (Modon) and King Abdulaziz City for Science and Technology.

 

The move comes as part of SIDF’s Tanafusiya Program, which aims to raise the competency and efficiency of existing factories to be able to compete locally and globally.

 

Tanafusiya finances the digital transformation and energy efficiency programs of Saudi factories.

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