New Delhi. Mukesh Ambani’s company Jio Platforms And worldwide satellite-based connectivity company SES on Monday announced the formation of a joint venture named Geo Space Technology Limited. This new joint venture will provide affordable broadband services using satellite based technology across the country. Jio Platforms and SES will hold 51% and 49% equity stake respectively in the joint venture. The joint venture will use a multi-orbit space network. Geostationary (GEO) and Medium Earth Orbit (MEO) satellites will be used in this network. Enterprise, mobile and retail customers from neighboring countries including India will also be able to connect with the network’s multi-gigabit link.
SES will provide 100 Gbps capacity. Which Jio will sell through its strong sales network. As part of the investment plan, the joint venture will develop comprehensive gateway infrastructure in India to provide services within the country.
Under this deal, Jio will buy gateways and equipment worth about US$ 100 million over the next few years. While SES will provide its modern satellites in the joint venture, Jio will operate and manage the Gateway infrastructure.
The company said in the statement that Kovid-19 has taught us that access to broadband is essential for full participation in the new digital economy. This joint venture will connect India with digital services. As well as providing access to distance health, government services and distance learning opportunities.
Jio Director Akash Ambani said, “We will continue to invest in 5G with our fiber-based connectivity and FTTH business. On the other hand, this new joint venture with SES will further accelerate the growth of multigigabit broadband.
Will connect consumers with the new Digital India
With the additional coverage and capacity provided by satellite communication services, Jio will connect remote cities and villages, enterprises, government establishments and consumers to the new Digital India. We are excited to join SES with expertise in the satellite industry.
Steve Caller, CEO of SES, said, “This joint venture with Jio Platforms is a great example of how SES can complement the most comprehensive grassroots network to provide high-quality connectivity, and transform the lives of millions of people. can affect positively. We are ready for this joint venture.
In a statement issued in the press, the company said that this joint venture will be a vehicle to take forward the Honorable Prime Minister’s ‘Gati Shakti: National Master Plan of Multi-Modal Connectivity’. To provide integrated and seamless connectivity by strengthening the infrastructure. It will rapidly enhance Connect India’s goals in the National Digital Communications Policy and Digital India programme, by expanding broadband connectivity to Indian citizens. (Disclaimer:- Tech for FTCP English is a part of Reliance Industries’ company Network18 Media & Investment Limited. Network18 Media & Investment Limited is owned by Reliance Industries.)
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