Prince Turki Bin Saud al-Saud, Vice President of Saudi's King Abdel-Aziz City for Science and Technology (KACST) has said that $2.14bn has been allocated for new investments in science, technology and innovation in the kingdom. According to Turki, King Abdel-Aziz City has been involved in the manufacturing of satellites for the past ten years. Saudi has 12 satellites in orbit, including two for communications. Turki said revenues from the industry are expected to increase exponentially in the next two to three years due to increased demand from local and regional governments and commercial clients for new applications such as internet access, satellite digital audio broadcasting and navigation.