OneWeb Low Earth Orbit (LEO) satellites to service NEOM, the Kingdom and MEA, thereby transforming connectivity to businesses as well as rural communities. OneWeb and NEOM Tech & Digital Holding Company, which is a subsidiary of NEOM have signed a $200 million joint venture agreement. They have joined hands to bring high-speed satellite connectivity to NEOM, the wider Middle East, Saudi Arabia and neighbouring East African countries.
OneWeb And NEOM Partnership
The partnership between OneWeb and NEOM will see the deployment of the former’s LEO satellite constellation to provide high-speed and reliable connectivity to enable the NEOM ecosystem of cognitive technologies. Also, the agreement includes a long-term strategic partnership regarding the R&D of future connectivity systems. Furthermore, it builds on the relationship between OneWeb and the MCIT (Ministry of Communications and Information Technology) and MISA (Ministry of Investment of Saudi Arabia). Established back in 2017, it is eyes to unlock Saudi Arabia’s orbital space technology that is still in the nascent stage for private investors. Furthermore, it strengthens ties between the UK government and Saudi Arabia with the former being a major strategic investor in OneWeb. NEOM Tech & Digital Hold Co. and OneWeb, the second-largest operator in the LEO satellite segment with 358 satellites are expected to complete the ground infrastructure next year. NEOM Tech & Digital Hold Co. along with the new JV entity possess exclusive rights to distribute the services of OneWeb in its target regions for seven years starting from the initiation of the LEO satellite network likely to debut in 2023. As of now, OneWeb uses the latest security protection that is deployed in advanced mobile networks. On the other hand, NEOM Tech & Digital Hold Co. will trial technologies in order to provide further security protection and testing of new, robust and resistant navigation and positioning solutions. This partnership will support the international connectivity strategy of NEOM Tech & Digital Hold Co that will use the connections to sub-sea and terrestrial communications cables, now LEO satellites to secure access to tens of terabytes of scalable capacity for rural and urban communities and businesses by 2030 and construction of 5G and fibre networks.
