Mukesh Ambani's Reliance Industries, infrastructure firm Brookfield Infrastructure and Digital Realty have concluded a transaction to set up a three-way joint venture for data centre services, an official statement said on Tuesday. The three companies entered into an agreement in July 2023 to invest in their existing special purpose vehicle Digital Connexion for developing data centres in India. Reliance has a market cap of over Rs 16 trillion as of December 13, 2023.
"With this announcement, the joint venture will assume a new identity as Digital Connexion: A Brookfield, Jio and Digital Realty Company succeeding and building on the strong foundation laid by BAM Digital Realty," Digital Connexion said in a statement. The transaction will result in the three companies becoming equal shareholders, with each owning a one-third (33.33 per cent) stake in the joint venture.
"The joint venture is actively progressing the development of strategically located data centres in Chennai and Mumbai. Its flagship greenfield data centre, MAA10, with 20 megawatts (MW) of IT load capacity on a potential 100 MW campus in Chennai, is set to launch in January 2024," the statement said. Besides, the JV has recently acquired 2.15 acres of land in Mumbai to expand the JV's footprint with the planned construction of a 40 MW data centre.
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