Jio Platforms And SES Join Hands For Jio Space Technology
The joint venture will deliver next generation scalable and affordable broadband services across India
Jio Platforms Limited, a digital service provider, and SES, a global satellite-based content connectivity solutions provider, announced the formation of a joint venture – Jio Space Technology Limited – to deliver the next generation scalable and affordable broadband services in India leveraging satellite technology. JPL and SES will own 51 per cent and 49 per cent equity stake in the joint venture respectively.
The joint venture will use multi-orbit space networks which 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 India and neighboring regions. 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, said a statement.
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 with a total contract value of circa $100 million.
"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," said Akash Ambani, director of Jio.
"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 millions of people. We look forward to this joint venture whereby we can play a role in promoting digital inclusion in India," said Steve Collar, CEO of SES.
The joint venture also aligns with "Gati Shakti: National Master Plan for Multi-modal Connectivity' initiative to provide integrated and seamless connectivity by implementing diverse infrastructure, added the statement.