Reliance Industries has announced the launch of Jio Fiber in India along with a massive $75 billion deal with Saudi Aramco. The company has also announced a partnership with Microsoft in the cloud segment. The latest developments were announced by the company chairman Mukesh Ambani at the 42nd AGM on August 12.
The company announced a 20% stake in oil and chemicals business with Saudi Aramco. The Jio Fiber will launch starting September 5 and will set new benchmarks in the industry.
Ambani also announced that Reliance Jio has entered into the strategic partnership with Microsoft to launch new cloud data centers. This move will boost transformation in the digital segment. The upcoming data centers will be powered by Microsoft Azure platform.
Digital transformation will be accelerated in the country with the futuristic partnership between Jio and @Microsoft.#RILAGM #RIL #MukeshAmbani #Microsoft #JioDigitalLife #Azure #AzureAI #MicrosoftJioAlliance #Innovation #Growth #SatyaNadella #Office365 pic.twitter.com/HmhWKngW6G
— Reliance Jio (@reliancejio) August 12, 2019
According to Ambani, the Reliance Industries will sell a 20% stake in the oil and chemicals business to Saudi Aramco for about $15 billion. The company will sell 50 percent of the fuel retail business to UK’s BP for a massive Rs 7000 crore. He added that the deal is one of the biggest foreign investment the company ever had in India.
Ambani disclosed that Aramco will supply 700,000 barrels of oil per day to the Reliance Jamnagar refinery in Gujarat. The company has entered into the deal with a long term perspective subject to approvals and other formalities.
Reliance will launch Jio Fiber starting September 5 with a wide range of offers. In addition to free voice calls from landline phones, the benefits associated with Jio Fiber include high-speed Broadband with 100Mbps speed alongside HD TV and dish. The plans start at Rs 500 and will reach Rs 10000 for the unlimited plan.
The basic Jio Fiber plan starts at 100Mbps with the possibility of raking up to 1Gbps. Ambani revealed that the team will fix prices in such a way that it looks competitive. Reliance also announced the launch of the Jio HoloBoard MR headset, which will help you to experience movies in a futuristic way. The team also demonstrated the functionalities directly at the AGM venue.Microsoft Azure
The main highlight of the Jio Fiber plan is that you will be able to watch new movies on the same day of the release. If you are a premium Jio Fiber customer, you can watch movies at the same time they are released in theatres. You can expect the launch of the Premium Jio Fiber by the middle of 2020.
