NEOM Tech & Digital Holding Company and OneWeb Sign $200 Million Joint Venture for Satellite Network

  • OneWeb Low Earth Orbit (LEO) satellites to service NEOM, the Kingdom and MEA, transforming connectivity to businesses and rural communities
  • High-speed connectivity will be a vital enabler of groundbreaking ecosystem of cognitive technologies

RIYADH, Saudi Arabia, 26 October 2021 (OneWeb PR) — NEOM Tech & Digital Holding Company – the first holding company to be established as a subsidiary of NEOM – and OneWeb, the global communications network powered from space, have signed a $200 million (SAR 750m) joint venture agreement to bring high-speed satellite connectivity to NEOM, Saudi Arabia and the wider Middle East and neighboring East African countries.

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OneWeb, Saudi Arabia Sign MOU on Satellite Internet

RIYADH, Saudi Arabia (OneWeb PR) – In a ceremony witnessed by H.E the Minister Eng. Abdulla Al-Sawaha and Sir Richard Branson, the Ministry of Communications and Information Technology (MCIT) and OneWeb have signed a memorandum of understanding to cooperate on the development of solutions in 2020 which should help to connect 237,000 homes throughout the country bringing much needed affordable, high-speed, low latency broadband access to those living in rural and remote areas.

This MOU comes within the efforts of MCIT to extend all the Kingdom’s areas of high-speed internet and to enhance the infrastructure of communications and data networks, in line with the National Transformation Plan aiming to reach high-speed Internet for the vast majority of rural and remote areas by 2020.

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