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Lenovo Will Issue $2 Billion In Bonds For Planned Saudi Expansion

The company has struck a deal with PIF-owned Alat to build a new headquarters and manufacturing plant in the Kingdom.

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lenovo will issue $2 billion in bonds for planned saudi expansion
Lenovo

Lenovo, the world’s largest PC manufacturer, will release $2 billion in convertible bonds to Saudi Arabia’s sovereign wealth fund as part of a substantial investment agreement planned to drive the Kingdom’s technological advancement.

The agreement, signed with Public Investment Fund-owned Alat, includes a new regional (Middle East and Africa) headquarters in Riyadh, an R&D center, plus a PC and server factory.

The deal will allow Lenovo to unlock “significant resources and financial flexibility to further accelerate our transformation and grow our business by capitalizing on the incredible growth momentum in the MEA region,” according to Chairman and CEO Yuanqing Yang.

The Lenovo investment takes advantage of Saudi Arabia’s Regional Headquarters Program, which offers business-friendly incentives, including a 30-year tax break and access to loan programs, employment support, export credit, land solutions, and further financial incentives.

Also Read: Telecom Leader Myriota Introduces Satellite IoT Developer Platform

Alat, a Public Investment Company organization launched in February, is chaired by Crown Prince Mohammed bin Salman and aims to promote the Kingdom as a global power in sustainable technology, covering sectors such as semiconductors, robotics, mining, smart appliances, health, the built environment, and next-gen infrastructure.

Alat aims to create 39,000 jobs in Saudi Arabia and contribute $9.3 billion to the economy by 2030. Lenovo’s expansion into the Kingdom is expected to contribute significantly to these ambitions, as it controls around 25% of the global PC market.

The Lenovo-Alat deal comes as Saudi Arabia plans to boost foreign investment to $100 billion per year as part of its Vision 2030 agenda. The government hopes to have nearly 500 global companies headquartered in the country by 2030 as it attempts to pivot from a reliance on oil production.

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Viasat Satellite Messaging Tech Showcased In Saudi Arabia

The direct-to-device (D2D) demonstration highlighted the technology’s potential to revolutionize remote communication.

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viasat satellite messaging tech showcased in saudi arabia

Satellite communications firm Viasat announced yesterday that it had completed its first demonstration of direct-to-device (D2D) satellite connectivity technology in Saudi Arabia. The live broadcast took place during the “Connecting the World from the Skies” event in Riyadh, organized by Saudi Arabia’s Communications, Space & Technology Commission (CST) alongside the International Telecommunication Union (ITU).

Attendees witnessed successful satellite-based two-way messaging and SOS alerts sent using commercial Android smartphones and a combination of Viasat’s robust L-band satellite network and the Bullitt over-the-top messaging app. Signals were transmitted using the company’s L-band spacecraft positioned over the Indian Ocean, while the infrastructure for 3GPP NTN services was deployed by Viasat’s partner Skylo.

Sandeep Moorthy, Viasat’s Chief Technical Officer, emphasized the significance of the demonstration, explaining, “By expanding our direct-to-device innovation to the Kingdom of Saudi Arabia, we’re showcasing the potential for D2D services in the fast-growing Gulf and Asia-Pacific region. D2D could help reduce barriers to connectivity in regions where terrestrial services are spotty and unavailable to help transform industries and supply chains, enable new opportunities, and to become more efficient, sustainable and safer. We’d like to thank the CST for their support in carrying out this exciting demonstration”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

D2D technology allows devices like smartphones, vehicles, and industrial equipment to connect seamlessly to both satellite and terrestrial networks. Unlike traditional satellite setups, D2D eliminates the need for extra hardware, thanks to emerging global standards that are gaining traction among satellite operators, mobile network providers, and tech manufacturers.

What makes this approach particularly promising is that Viasat uses a licensed, dedicated satellite spectrum to deliver its D2D services. This avoids any interference with existing terrestrial networks, allowing smooth integration with mobile network operators in the future.

The demonstration clearly showed the potential of D2D technology to bridge connectivity gaps in remote regions while opening up opportunities for innovation, improved safety, sustainability, and efficiency.

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