The transaction is expected to be completed within approximately three months. Credit: Mike Kononov via Unsplash.

India-based Reliance Industries (RIL) has announced that it has agreed to invest in Indian special purpose vehicles (SPV) that have been established to build data centres in the country.

The investment will see RIL own a 33.33% share of each of these SPVs.

RIL will become an equal partner within a joint venture (JV) comprising Digital Realty and Brookfield Infrastructure. The JV will be known as ‘Digital Connexion: A Brookfield, Jio, and Digital Realty Company’.

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Brookfield Infrastructure’s India & Middle East head and managing director Arpit Agrawal said: “We are very pleased to expand our existing partnership with Reliance and add their deep expertise in the Indian telecom, tech, and data landscape to the platform.

“Together with Reliance and Digital Realty, we look forward to providing the best of solutions to the digital transformation needs of Indian and global corporates.”

The acquisition is subject to regulatory approval and is expected to officially close within three months.

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The JV has begun the process of constructing data centres in Indian cities such as Chennai and Mumbai. The JV’s first 20MW greenfield data centre, named MAA10, is scheduled to be completed by the end of this year on a 100MW campus near Chennai in the state of Tamil Nadu.

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Furthermore, the JV recently announced the acquisition of 2.15 acres of property in Mumbai to construct an additional 40MW data centre.

The data centres will leverage Digital Realty’s energy-efficient data centre platform, a Pervasive Datacenter Architecture approach, Brookfield’s Indian infrastructure market knowledge, and Jio’s digital and connectivity ecosystem.