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Business News/ Companies / News/  Reliance Jio Platforms forms JV for offering satellite-based broadband services

Reliance Jio Platforms forms JV for offering satellite-based broadband services

Jio Platforms and SES will own 51% and 49% equity stake in the joint venture Jio Space Technology, respectively

Reliance Industries LtdPremium
Reliance Industries Ltd

Reliance Industries Ltd (RIL) on Monday announced that Jio Platforms Ltd (JPL) and SES, a global satellite-based content connectivity solutions provider, have formed Joint Venture (JV) for satellite-based broadband services. Jio Platforms will own 51% & SES 49% in the JV firm, Jio Space Technology Limited.

“The joint venture will use multi-orbit space networks that is a combination of geostationary (GEO) and medium earth orbit (MEO) satellite constellations capable of delivering multi-gigabit links and capacity to enterprises, mobile backhaul and retail customers across the length and breadth of India and neighbouring regions," RIL said in an exchange filing today.

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. 

Further, 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 the market opportunity, the Mukesh Ambani-led conglomerate added. 

“As part of investment plan, the joint venture will develop extensive gateway infrastructure in India to provide services within the country. Jio, as an anchor customer of the joint venture, has entered into a multi-year capacity purchase agreement, based on certain milestones along with gateways and equipment purchase with total contract value of circa $100 million," the statement added.

The joint venture will leverage SES-12, SES’s high-throughput GEO satellite serving India, and O3b mPOWER, SES’s next-generation MEO constellation, to extend and complement Jio’s terrestrial network, increasing access to digital services and applications. Jio will offer managed services and gateway infrastructure operations services to the joint venture, it added.

In January this year, Jio's rival Airtel had announced JV with Hughes Communications India to provide satellite broadband services in India, to offer flexible and scalable enterprise networking solutions using satellite connectivity for primary transport, back-up and hybrid implementation.

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Published: 14 Feb 2022, 08:58 AM IST
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