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Jio-Microsoft Cloud Partnership, Jio Fiber Launch and Saudi Aramco $75 Billion Deal

Sale of 20% stake in oil and chemicals business to Saudi Aramco, a partnership for new cloud data centres and the commercial launch of Jio Giga Fiber from September 5 are among the big announcements

Reliance Industries chairman Mukesh Ambani announced a $15 Billion foreign direct investment (FDI) deal with oil giant Saudi Aramco which will pick up a 20 per cent stake in Reliance’s oil-to-chemicals (OTC) business, Economic Times has reported.

“This is the biggest foreign investment in the history of Reliance,” he said. In India, It will be the largest foreign investments ever.

Aramco, the world’s biggest crude exporter, will also supply Reliance’s twin-refineries at Jamnagar in Gujarat with 7 lakh barrels of oil a day on long-term basis.

Jio Giga Fiber roll out from September 5, which will offer free voice calls for life from landline phones, high speed broadband of minimum speed of 100 mbps, free high definition TV. Plan will start at monthly rental of Rs 700 and go up to Rs 10,000.

“In India even the most basic Jio Giga Fiber will start at 100 mbps at the lowest end. We have plans to go all the way to 1 gbps. We are pricing our plan at one-tenth of global rate to make it accessible for every home,” Ambani said.

From mid-2020, “Premium Jio Giga Fiber customers can watch movies at home the same day they are release in theatres! This service will be launch in the middle of 2020.

Reliance has entered into a partnership with Microsoft to accelerate digital transformation with the launch of new cloud data centres.

Jio will set up a network of large world-class data centres across India powered by Microsoft’s Azure cloud platform.

All announcement was made by Ambani at RIL’s annual general meeting (AGM) In Mumbai on Monday (12 August).

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