(B.S)
The two companies will form a joint venture with Jio Platforms Ltd and SES owning 51 per cent and 49 per cent stake, respectively. Reliance Jio has announced its foray in satellite-based broadband communication with a tie up with Luxembourg-based firm SES. The partnership will enable Jio to offer next generation affordable and scalable broadband services in India leveraging satellite technology, it said. The two companies will form a joint venture with Jio Platforms Ltd and SES owning 51 per cent and 49 per cent stake, 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 two companies said in a statement. “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. 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 US $100 million,” they added.
