Reliance Industries entered into data center business, partnered with Brookfield

Reliance Industries has announced an investment in Brookfield Infrastructure and Digital Realty to develop data centers in India. Reliance will buy a 33.33 percent stake in India-based companies of Brookfield and Digital Realty. The proposed investment is Rs 378 crore. Which can later be increased up to Rs 622 crore as per the requirement. The transaction is subject to regulatory approval and is expected to close in approximately 3 months.
In India, a joint venture between Digital Realty Trust and Brookfield Infrastructure develops critical infrastructure for digital services companies. This joint venture deploys high-quality, highly connected, and on-demand scalable data centers. After this deal, Reliance will become an equal partner in this joint venture. The new JV will be rebranded as 'Digital Connection: A Brookfield, Jio and Digital Realty Company'.
The Joint Venture (JV) is currently developing data centers in prime locations of Chennai and Mumbai. Reliance said in a statement that the JV's first 20 megawatts (MW) greenfield data center (MAA10) at the 100 MW complex in Chennai is expected to be completed by the end of 2023. The JV recently announced the acquisition of 2.15 acres of land in Mumbai to build a 40 MW data center.
Commenting on the deal, Kiran Thomas, CEO, of Jio Platforms Limited, said, “We are extremely excited to partner with Digital Realty and our existing and trusted partner Brookfield. This partnership will help us provide our enterprise and SMB customers with state-of-the-art, plug-and-play solutions delivered from the cloud to lead their digital transformation and make them more competitive and efficient.
We would like to thank the Government of India for granting infrastructure status to data centers and creating a conducive ecosystem for their development and operation. Which is important for India's vision of becoming a $1 trillion digital economy by 2025.