Billionaire Mukesh Ambani-led Reliance Jio has partnered with a leading global satellite-based connectivity solutions provider-SES to form a new venture – Jio Space Technology Limited. The joint venture will connect the remotest towns, villages, enterprises, government establishments, and consumers with a seamless multigigabit broadband.
According to the JV between the two groups, Jio will have a 51 percent equity share, whereas the Luxembourg-based SES will hold 49 percent.
Jio said in a press release that the JV would provide speeds up to 100 Gbps by developing extensive infrastructure in India.
Important to note here is that Elon Musk-led StarLink is already providing satellite-based internet in other parts of the world with a speed of 150 Mbps and is entering the Indian Market with the same. On the other hand, Sunil Bharti Mittal led Bharti Airtel to partner with Huges to provide satellite broadband to users.
Akash Ambani, Director of Jio, said, “This new joint venture with SES will further accelerate the growth of multigigabit broadband as Jio will be able to connect the remotest towns and villages, enterprises, government establishments, and consumers to the new Digital India.”
Steve Collar, CEO of SES, said, “This JV 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.”