Reliance Industries to invest in data center development with Brookfield and Digital Realty

Reliance Industries Limited (RIL) has announced plans to invest alongside Brookfield Infrastructure and Digital Realty in the development of data centers in India. The Indian conglomerate will acquire a 33.33% stake in each of the Indian Special Purpose Vehicles (SPVs) for the project, making Reliance Industries Limited an equal partner.

Digital Realty Trust, the world’s largest provider of cloud and carrier-neutral data center solutions, and Brookfield Infrastructure have been developing high-quality data centers in India. Reliance Industries Limited’s investment will see it become an equal partner in the joint venture, which will now operate under the name ‘Digital Connexion: A Brookfield, Jio and Digital Realty Company’.

Data center capacity in India is anticipated to multiply in the coming years, driven by the increased adoption of digital services, the roll-out of 5G, and the rise of data-intensive technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI). The partnership aims to meet these growing demands.

The joint venture is currently developing data centers in Chennai and Mumbai, strategically located to offer global connectivity for Indian companies and serve as gateways into India for multinational corporations. Reliance Industries Limited’s extensive digital and connectivity ecosystem will significantly expand the joint venture’s reach across the country.

CEO of Jio Platforms Limited, Kiran Thomas, expressed excitement about the partnership and the potential to provide clients with advanced cloud solutions. Arpit Agrawal, Managing Director, Head of Infrastructure, India & Middle East at Brookfield, welcomed the expansion of the existing partnership with Reliance Industries Limited and its deep expertise in the Indian telecom, tech, and data landscape. The deal, which is subject to regulatory approvals, is expected to be finalized in approximately three months.