Reliance Industries agreed to join an existing joint venture between Brookfield Infrastructure Partners and Digital Realty Trust as an equal partner to develop data centres in India.
The conglomerate explained in a joint statement it will invest alongside the two partners in their Indian special purpose vehicles (SPVs) set up to build data centres.
Reliance Industries will hold 33.3 per cent stake of the entity operating under the brand name Digital Connexionn: A Brookfield, Jio and Digital Realty Company.
In a stock market filing, Reliance Industries stated it will invest INR3.8 billion ($46.3 million) in the existing jv Mercury Holdings SG and committed to pump up to INR6.3 billion in equity and debt securities of the current and any new SPVs.
Serene Nah, MD and head of Asia Pacific at Digital Realty, said India is a mostly untapped market for the data centre industry and the venture brings together “three global leaders in digital infrastructure to accelerate Digital India” by developing, owning and operating carrier- and cloud-neutral sites.
Jio Platforms CEO Kiran Thomas said the partnership will help it serve its enterprise and SMB clients.
A 20MW data centre in Chennai developed by the venture is expected to be completed by the end of this year.
The JV recently announced it purchased land in Mumbai to build a 40MW data centre.