AICTEC sets up SAR 5.6M JV with China’s ZKTeco

AICTEC established a joint venture with China-based ZKTeco under the name Noor Technology Co.

Advance International Company for Communication and Information Technology (AICTEC) said it established a joint venture (JV) with China-based ZKTeco under the name Noor Technology Co.

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The new entity has been registered with a unified commercial registration number (7051187396) and a capital of SAR 5.63 million, the company said in a statement to Tadawul.

The venture follows a memorandum of understanding (MoU) signed earlier this year between the two firms. Noor Technology will set up a specialized factory to produce security inspection gates, vehicle and pedestrian access control systems, and other modern technology solutions for Saudi Arabia and the wider Middle East.

AICTEC expects the project to support Saudi Arabia’s Vision 2030 goals by boosting localization of security and technology industries, increasing local content, creating jobs, and strengthening the Kingdom’s technological and manufacturing base.

ZKTeco is a global provider of biometric solutions and AI-powered spatial intelligence technologies, specializing in biometric authentication and smart access management.

In May, AICTEC signed an MoU with ZKTeco to establish the plant in Saudi Arabia. ZKTeco will hold a 60% stake in the venture, with AICTEC owning the remaining 40%, according to Argaam data.