OneWeb, Neom Tech form $200 million joint venture for satellite network in Middle East, East African countries
The Hindu
Neom Tech and Digital Holding Company and OneWeb, the only licensed operator in Saudi Arabia, expect to complete ground infrastructure in 2022
Bharti Group backed satellite company OneWeb and Saudi Arabia's Neom Tech and Digital Holding Company have signed a pact for a $200 million joint venture to provide satellite-based services to Middle East and East African countries, a joint statement said Tuesday.
The joint venture firm will see the deployment of OneWeb's Low Earth Orbit (LEO) satellite constellation to provide connectivity to enable Neom's ecosystem of cognitive technologies.
Neom Tech and Digital Holding Company is the first holding company to be established as a subsidiary of Neom, a region in Saudi Arabia.
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