Lagatar24 Desk
New Delhi, Feb 14: Jio Platforms, a digital services firm, in a joint venture with Luxembourg-based SES announced on Monday to provide satellite-based internet services in India.
Jio Platforms (JPL) and SES have launched a joint venture named Jio Space Technology Limited in which they would own 51 percent and 49 percent of the equity stakes, 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 100Gbps capacity from SES and will leverage Jio’s premiere position and sales reach in India to unlock this market opportunity,” the statement said.
Multi-orbit space networks, a combination of geostationary (GEO) and medium earth orbit (MEO) satellite constellations, will be used by the joint venture to supply multi-gigabit connectivity and capacity to companies, mobile backhaul, and retail customers across India and neighbouring countries.
“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 $100 million (roughly Rs. 750 crore),” 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.”
