Saudi-listed Advance International Company for Communication and Information Technology (AICTEC) has signed a MoU with China’s ZKTeco to establish a new factory in Saudi Arabia. The joint venture will have a total capital of USD 1.5 million, with ZKTeco holding a 60% stake and AICTEC owning the remaining 40%. The factory will focus on manufacturing and assembling security inspection gates, vehicle and pedestrian access control gates, and modern technical systems. ZKTeco, a Shenzhen Stock Exchange-listed company, specializes in biometric solutions and AI-powered spatial cognitive intelligence technologies. The joint venture aims to primarily serve the Saudi market but also plans for regional expansion.
Saudi-listed AICTEC, China’s ZKTeco plan opening new factory in Kingdom
