Digital Desk: Reliance Jio formed a joint venture with Luxembourg-based SES on Monday to provide satellite-based internet services in India.
Jio Platforms (JPL) and SES have launched a joint venture, Jio Space Technology Limited, in which they would own 51 percent and 49 percent of the equity stakes, respectively.
Except for select international aviation and maritime customers, which may be supplied by SES, the joint venture will be the vehicle for providing SES satellite data and communication services in India.
"It will utilize Jio's top position and sales reach in India to unlock this market. In addition, it will have access of up to 100Gbps capacity from SES." the statement read.
The joint venture will use multi-orbit space networks, a combination of geostationary (GEO) and medium earth orbit (MEO) satellite constellations to supply multi-gigabit connectivity and capacity to companies mobile backhaul and retail customers across India and neighbouring countries.
According to the announcement, "Jio, as the joint venture's anchor client, has signed into a multi-year capacity purchase agreement based on specified milestones, as well as gateways and equipment procurement, with a total contract value of circa $100 million (about Rs. 750 crores)."
"While we continue to build our fiber-based connection and FTTH business and invest in 5G, this new joint venture with SES will further accelerate the expansion of multigigabit broadband. As a result, Jio will be able to connect the remotest towns and villages, enterprises, government buildings, and consumers to the new Digital India," said Jio Director Akash Ambani.
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