Lianhe Sowell International Group has announced that it has signed a non-binding US$105 million (c. £78m) financing frame agreement to build a UAE AI-robot manufacturing and R&D base.
The deal is with Excellent Capital Investments (ECI), a European infrastructure investment fund, and the potential proceeds will be used to establish the artificial intelligence-powered robot manufacturing and research and development base.
Total investment in the project is estimated to be approximately $132.5m (c. £99m) with Lianhe Sowell contributing 20% of the Project investment as cornerstone investment.
ECI will provide the remaining 80% in the form of structured senior secured credit support.
Reportedly, the UAE Project represents a key milestone in the company’s globalisation strategy and serves as a benchmark for high-end Chinese manufacturing expanding overseas.
Lianhe Sowell estimates the project construction period will be around 18 months and, upon completion, the manufacturing and R&D base is expected to have an annual output of several thousand AI robots annually.
Lianhe Sowell also plans to establish a robotics technology training and certification centre to support local talent development and promote industrial automation and green manufacturing across the Middle East.
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