Reliance Plans Satellite Broadband Rivaling SpaceX, OneWeb
- Jio Platforms announced setting up of a joint venture with SES
- JV will use geostationary and medium Earth orbit satellites
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The conglomerate helmed by Mukesh Ambani, Asia’s richest man, is moving to provide to provide satellite broadband connectivity, muscling into a segment where billionaires Sunil Mittal’s OneWeb and Elon Musk’s SpaceX have ambitious plans.
Jio Platforms Ltd., a wholly-owned subsidiary of listed Reliance Industries Ltd., entered into a joint venture with Luxembourg-based SES to “deliver the next generation scalable and affordable broadband services in India leveraging satellite technology,” according to an exchange filing Monday. Jio Platforms will own 51% in the newly-created Jio Space Technology Ltd., with SES holding the rest.