Jio Platforms, the digital arm of Reliance Industries Ltd (RIL) and SES, a leading global satellite-based content connectivity solutions provider, on Monday announced the establishment of a joint venture — Jio Space Technology Ltd — to deliver the next generation scalable and affordable broadband services in India leveraging statellite technology.

Share Market Live

NSE

Jio Platforms and SES will own 51 percent and 49 percent equity stake in the JV respectively. 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, the release added.

“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 multigigabit 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,” Akash Ambani, Director of Jio, said in a company release.

ALSO READ | Jio Platforms buys 25% stake in Two Platforms Inc for $15 million

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, the release added. 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, it further added.

“This joint venture with JPL is a great example of how SES can complement even the most extensive terrestrial networks to deliver high-quality connectivity, and positively affect the lives of hundreds of millions of people. We look forward to this joint venture whereby we can play a role in promoting digital inclusion in India,” Steve Collar, CEO of SES, said.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

First Published:Feb 14, 2022 9:31 AM IST