Sawaca receives proposals to develop AI-based supply chain management software
The collaboration with TCS includes a robust investment plan, where TCS will inject $2.95 million into the project, distributed in semi-annual tranches.
Sawaca Business Machines Ltd. has announced that it has received a proposal from TCS Information Technology, a Dubai-based firm, to develop an advanced AI-based Supply Chain Management (SCM) software. This initiative is tailored to enhance the efficiency of supply chain operations in the Gulf Region, a critical market for export-import activities.
The collaboration with TCS includes a robust investment plan, where TCS will inject $2.95 million into the project, distributed in semi-annual tranches. This financial backing is designed to support the various phases of the software's development—from initial research and development to its final deployment.
"Moreover, the partnership is strengthened through the creation of a joint subsidiary based in Dubai, which will handle and execute substantial orders estimated at over $15 million over the next three years. This move is not only strategic from a business expansion perspective but also aligns with Sawaca’s new focus on integrating IT solutions into its business model," the company said in a release.
In addition to software development and operational execution, TCS Information Technology has expressed its intention to acquire a 20-25 per cent stake in Sawaca. This acquisition will be carried out either through a preferential issue or via open market transactions, highlighting the strategic depth of this partnership and the mutual confidence in its long-term success.
This expansion into IT is particularly notable given Sawaca’s existing financial strengths and market performance.
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