NEOM, OneWeb sign $200 mln agreement to provide high-speed internet network

Logo of NEOM

NEOM Tech and Digital Holding Co. signed with OneWeb a joint venture agreement worth $200 million (SAR 750 million) to bring high-speed satellite connectivity to NEOM, Saudi Arabia, the Middle East, and neighboring East African countries. 
 

The partnership will see the deployment of OneWeb's low earth orbit (LEO) satellite constellation, which will not only provide the rapid and reliable connectivity to enable NEOM's ecosystem of cognitive technologies, but also transform businesses and rural communities in the region.
 

The agreement also includes a long-term strategic partnership regarding research and development of future connectivity systems.
 

The two parties expect to complete the ground infrastructure by 2022.
 

OneWeb is the second largest satellite operator in the world, as it operates 358 low-orbit satellites. In addition, it is the only licensed operator in Saudi Arabia.  
 

Under the agreement, NEOM Tech owns the exclusive rights to distribute OneWeb services in the target regions for seven years since the launch of the low-orbit satellite network, which is expected to commence in 2023.