RIL partners Brookfield for data centres in India

Reliance Industries (RIL) has entered into an agreement to invest alongside Brookfield Infrastructure and Digital Realty in their Indian SPVs set up for developing data centres in India. RIL will hold a 33.33% stake in each of the Indian SPVs and become an equal partner. Digital Realty Trust, Inc. (Digital Realty) is the largest provider of cloud and carrier-neutral data centre, colocation, and interconnection solutions globally with 300+ data centres across 27 countries. They have a joint venture (JV) with Brookfield Infrastructure that is developing high-quality, highly-connected, scalable data centres to meet the critical infrastructure needs of enterprises and digital services companies in India. 

The JV will be branded as ‘Digital Connexion: A Brookfield, Jio and Digital Realty Company’. The JV is currently developing data centres in marquee locations in Chennai and Mumbai. The JV’s first 20 megawatts (MW) greenfield data centre (MAA10), on a 100 MW campus 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. Given the location of these sites, the data centres will be connected to critical terrestrial connectivity infrastructure, as well as undersea cables, and will become hubs for global connectivity for Indian companies and gateways into India for multi-national companies. 

Reliance Industries is India’s largest private-sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, and 4G digital services. 

Today, the stock opened at Rs 2491.50, with a high and low of Rs 2505 and Rs 2480.05. The stock is currently trading at Rs 2493.90. up by 0.26%.   

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.