Redington Ltd, a know-how distributor, has introduced a SAR 2 billion ($533 million) funding plan for Saudi Arabia over the subsequent decade. The announcement was made at the moment at LEAP 2025, a premier tech occasion in Riyadh.
The shares of Redington Ltd had been buying and selling at ₹239.78, up by ₹7.98 or 3.44 per cent on the NSE at the moment at midday.
The funding will fund a brand new headquarters, an automatic distribution centre, and expertise improvement initiatives within the Kingdom. The corporate additionally revealed plans to distribute Saudi-made servers throughout the area as a part of its portfolio growth.
Redington, which has operated in Saudi Arabia for twenty-four years, delivered $1.5 billion value of know-how within the nation in 2024. The brand new funding will probably be funded by means of inside accruals, in keeping with the corporate’s press launch.
Viswanath Pallasena, CEO of Redington MEA, emphasised the corporate’s alignment with Saudi Imaginative and prescient 2030, highlighting know-how’s function in supporting the dominion’s targets of growing a vibrant society, thriving financial system, and bold nation.
The know-how aggregator, which operates throughout 40 markets with over 450 worldwide model partnerships, was ranked seventh globally by analysis agency Canalys based mostly on 2023 revenues. Redington’s presence in Saudi Arabia features a community of warehouses throughout main cities, serving varied sectors, together with IT/ITeS, telecom, way of life, and photo voltaic.
