Reliance And Sanmina Will Set Up An Electronics Hub In India

Reliance and Sanmina will set up an electronics hub in India.

Reliance and Sanmina will make a world-class electronic manufacturing hub in India, Reliance will invest 1670 crores.

Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), and Sanmina Corporation have announced the formation of a joint venture to set up an electronics hub in India.

Reliance will invest Rs 1670 crore in the existing Indian unit of Sanmina. Reliance will hold a 50.1 percent stake in the joint venture.

While the management will remain in the hands of the current team of Sanmina.

The JV will give priority to communication networking such as 5G, cloud infrastructure, hyperscale datacenters.

It will also manufacture high technology hardware for industries such as health systems, industrial and defense, and aerospace.

The company has described it as in line with Prime Minister Modi’s “Make in India” vision.

The JV will continue to serve Sanmina’s existing customers as before, besides creating a state-of-the-art ‘Manufacturing Technology Center of Excellence, which will promote the eco-system of product development and hardware start-ups in India.

RSBVL will hold a 50.1% equity stake in the joint venture entity, while the remaining 49.9% will be held by Sanmeena.

RSBVL will acquire this ownership primarily through an investment of up to Rs 1,670 crore in new shares in the existing Indian arm of Sanmina. This investment will help Sanmina grow its business.

All construction will initially take place on Sanmina’s 100-acre campus in Chennai. They can also be expanded in the future.

Jure Sola, President, and CEO, Sanmina, said, “We are extremely excited to partner with Reliance to create an integrated manufacturing company in India.

This JV will serve the needs of both domestic and export markets and complement the Government of India’s vision of “Make in”. India will prove to be a milestone.

Akash Ambani, Director, Reliance Jio said, “We will be delighted to work with Sanmina to access the important market of high-tech manufacturing in India.

India’s growth and security are essential to being self-reliant.

Telecom, IT, Self-reliance in electronics manufacturing for data center, cloud, 5G, new energy, and other industries is essential as we move forward in a new digital economy.

Through this partnership, we will be able to drive innovation and talent in India while meeting Indian and global demand. planning to promote.