NEOM Tech & Digital Holding Co, the first holding company to be established as a subsidiary of NEOM, and Bharti-backed low earth orbit (LEO) satellite operator, OneWeb, have inked a $200 million joint venture agreement to bring high-speed satellite connectivity to NEOM, Saudi Arabia and the wider Middle East and neighboring East African countries. The partnership will see deployment of OneWeb’s LEO bit (LEO) satellite constellation, which will not only provide rapid and reliable connectivity to enable NEOM’s ecosystem of cognitive technologies, but also transform businesses and rural communities in the region where access to fiber-like internet was previously unimaginable. The agreement also includes a long-term strategic partnership regarding research and development of future connectivity systems.
NEOM Tech and OneWeb plan to complete the ground infrastructure in 2022. NEOM Tech & Digital Hold Co and the new JV entity will have exclusive rights to distribute OneWeb services in its target regions for seven years from the initiation of the LEO satellite network, which is expected to commence in 2023. OneWeb is readying to take on Elon Musk’s Starlink and Amazon’s Project Kuiper venture in the nascent fast broadband-from-space segment globally. It will launch satellite broadband services in India too by May 2022.