Saudi Aramco to buy Reliance oil refining stake for US$15B

14 Août, 2019, 02:00 | Auteur: Auguste Feret
  • RIL Chairman and Managing Director Mukesh Ambani

While the much-awaited Jio GigaFiber broadband service launch date is announced, what may attract more customers to opt for the service is free TV with Jio Fiber connection.

Cloud computing and challenge to Jeff BezosThe partnership between Jio and Microsoft is a challenge to Jeff Bezos' Amazon Web Services (AWS) in the country that caters to some of the big wigs in the country like Tata, Hotstar, Wipro and Oracle.

Jio's connectivity infrastructure will promote the adoption of the Microsoft Azure cloud platform within its growing ecosystem of startups, as part of Jio's cloud-first strategy.

Aside from the commercial launch of Jio Fiber, Ambani at the AGM detailed Jio Home Phone that will be the fixed-line service available alongside high-speed broadband service to enable global calling with the "lowest fixed-line rates".

In December, in a first for India, blockchain-enabled letter of credit had facilitated an export shipment between Reliance Industries (RIL) and one of its US-based clients.

Additionally, RIL and its partner, BP Plc, will together invest Rs 35,000 crore for bringing to production three sets of natural gas fields in the Krishna Godavari basin block in the Bay of Bengal by 2022, chairman Mukesh Ambani said. By setting up a pan-India Edge Computing and Content Distribution network, your favourite content and applications will be even nearer to you.

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The biggest announcement for consumers that took place at RIL's 42nd AGM on Monday was the commercial launch schedule of Jio GigaFiber. There was speculation about Aramco buying a 20 per cent stake in the business for about $15 billion, but Khalid Al-Dabbagh, Aramco's chief financial officer, declined to confirm those figures and said the talks with Reliance were at "an early stage". Jio also promises zero latency gaming with its set top box. Existing Jio GigaFiber and new Jio Fiber customers would be able to get voice calling support through the new service.

Under the Jio Fiber Welcome offer, users will get a Full HD TV or a Home PC, a Jio 4K Set-Top-Box.

Users also won't have to go to the cinema to watch movies anymore. Worldwide voice calling will also be available through the fixed-line, with one of the plans revealed to have unlimited calling to the U.S. and Canada for just ₹500 ($7) per month, though most families now utilize app-based free calling solutions such as WhatsApp.

This is clear that Reliance Jio is all set to enter the broadband market, DTH, Blockchain, IoT and more. Jio will also offer high speed top of the line 1000 MBPS FTTH plans. "We plan to launch this service in the middle of 2020", Mukesh Ambani, Chairman RJio, said.

Paired with the Jio GigaFiber annual plans that offer a free LED TV, this could be quite a killer deal.

The report further said that Hathway, Den, GTPL Hathway (owned or investee companies of RIL) also offer home broadband at price of Rs 350-400 per month but offering lower speeds of 50 Mbps, whereas RIL is promising a minimum speed of 100 Mbps at a minimum rate of Rs 700.

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