Hanwha Systems invests Rs 2,228 cr in Bharti-backed OneWeb for 8.8% share

Hanwha Systems of South Korea is infusing USD 300 million (Rs 2,228 crore) for an 8.8 per cent share in OneWeb, the Low Earth Orbit (LEO) satellite communications company backed by Bharti group. The investment brings OneWeb’s total equity investment since November 2020 to USD 2.7 billion with no debt issuance.

The investment is expected to be completed in the first half of 2022, subject to regulatory nods.