INSUBCONTINENT EXCLUSIVE:
The two companies have formed a joint venture, Jio Space Technology Limited.New Delhi: Digital services company Jio Platforms on Monday
announced a joint venture with Luxembourg-based SES to provide satellite-based broadband services in India, a joint statement said.The two
companies have formed a joint venture, Jio Space Technology Limited, in which Jio Platforms (JPL) and SES will own 51 per cent and 49 per
cent equity stake respectively."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," the
statement said.The joint venture will use multi-orbit space networks, 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."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 USD
100 million," according to the statement.Jio Director Akash Ambani said, "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." He further added
that "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."
