Jio Platforms, a wholly owned subsidiary of Reliance Industries Limited (RIL), on February 14 announced a joint venture with SES, Luxembourg-based satellite services provider, to deliver to deliver the next generation scalable and affordable broadband services in India.
Jio Platforms Limited and SES will own 51% and 49% equity stake each in the joint venture, RIL said in a regulatory filing.
“The joint venture will be the vehicle for providing SES’s satellite data and connectivity services in India, except for certain international aeronautical and maritime customers who may be served by SES. It will have availability of up to 100 Gbps capacity from SES and will leverage Jio’s premiere position and sales reach in India to unlock this market opportunity,” the official statement said.
The joint venture will develop extensive gateway infrastructure in India to provide services within the country, the statement noted, adding that the total value of the contract is about $100 million.
“While we continue to expand our fibre-based connectivity and FTTH business and invest in 5G, this new joint venture with SES will further accelerate the growth of multi-gigabit broadband. With additional coverage and capacity offered by satellite communications services, Jio will be able to connect the remotest towns and villages, enterprises, government establishments, and consumers to the new Digital India. We are excited about this new journey combining our massive reach and customer base with SES’s innovative leadership and expertise in the satellite industry,” said Akash Ambani, Director of Jio Platforms.
The joint venture also aligns with the government’s Gati Shakti initiative, aimed at providing integrated and seamless connectivity.
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