The New Year has started with a band. Many new projects are in the line-up which will directly affect India’s economic growth. Several industrialists have already made announcements of their big projects. In this regard, Ambani has made a new statement that reflects their new project and this project they are doing with the collaboration of Brookfield. Simply said, Billionaire Indusrtrialist’s firm is joining hands with Canada’s Brookfield to open a data center. This statement was officially made by Mukesh Ambani on Sunday, 7th January 2024. In his statement, he further added that Reliance Industries will open this data center in Chennai.
Reliance Industries is Joining hands with Canada’s Brookfield to Open Data Centre
The company will start this project under the partnership with Brookfield in Chennai most probably by the next week. This new project is marked as the new entry of Reliance into the fast-growing market. It is worth noting that an Indian multinational conglomerate invested around Rs 378 crore in July 2023 to make entry into an existing joint venture, where the United States-based realty estate investment trust Digital Realty and Brookfield Infrastructure have already joined the hands. These three partners have equal ownership in this venture as they own 33 per cent. The new data center that is planned to be opened in Chennai is the first project of Reliance Industries with Brookfield.
This announcement was made during the Tamil Nadu Global Investors Meet on Sunday. As per the managing director and Chairman of Reliance Industries Ltd., the group is already investing their money in green hydrogen and renewable energy along with the foundation of making a data center in the State. He stated during the summit that the group has joined hands with the asset management of Brookfield of Canada and US-based Digital Reality to establish a state-of-the-art data center. The setting of this new data center will most probably start by next week.
The data centers of India’s market are awakening the entry of Reliance to competitor Bharti Airtel Ltd. owned by Sunil Mittal and Adani Group owned by Gautam Adani in recent months. In addition to this, it is expected that the Indian market of data centers will grow 40 per cent a year and make USD 5 billion in investments by the next year. Besides, as we mentioned above, the MD and Chairman of Reliance Industries have also stated that the group would be making new investments in green hydrogen and renewable energy in the Southern Part of India.
He states that our group is in touch with the state government of Tamil Nadu and we are working together to boost sustainable development in the state. In the midst of growing global warming, it is becoming essential to save our Earth and for that, we need to promote sustainable development. He further added that he is confident that the government of Tamil Nadu will give their full support to Reliance’s upcoming projects with viable policies. Reliance Industries has committed to make more than $10 billion of investments in the new energy business in the 3 years.
Reliance Group aims to provide green hydrogen at an affordable price in the form of a viable alternative to already existing fuels which need to be sustained. He made all these announcements through a video message in which the 66-year-old billionaire also emphasized the numerous investments of conglomerates in Tamil Nadu and the setting up of the new data center is the first project of RIL in 2024. It is worth noting that, the multinational telecom company RIL has already invested around Rs 35,000 crore in the Southern part bringing its digital offering to 35 million subscribers in every village and town in Southern Part of India