Bharti backed OneWeb and Neom Tech have signed a $200 million joint venture agreement to deliver high-speed satellite connectivity to Saudi Arabia, West Asia and neighboring East Africa countries.
As part of this JV, Neom Tech & Digital Hold and OneWeb plan to complete ground infrastructure in 2022.
Upon the beginning of the LEO satellite network in 2023, Neom Tech & Digital Hold and the new joint venture will have exclusive rights to distribute OneWeb services in their target regions for seven years.
OneWeb’s LEO satellite constellation will be deployed through this partnership, which will not only enable Neom’s ecosystem of cognitive technologies but also transform businesses and rural communities in the region.
According to the company, the agreement also includes a long-term strategic partnership for the research and development of future connectivity systems.
Neom will soon begin trialing technologies to provide further security protection and will also test new more robust and resistant positioning and navigation solutions.
