RIL seeks to lead 5G race with Sanmina JV for electronics manufacturing

Apart from 5G, the JV will also get into other areas of technology such as cloud infrastructure and hyper-scale data centres

Reliance Industries (RIL) said on Thursday that it has signed an agreement to set up a joint venture (JV) with Sanmina Corp through an investment in the US-based company’s Indian unit for building an electronics manufacturing hub in Chennai.

Reliance Strategic Business Ventures Ltd (RSBVL), an RIL subsidiary, will invest Rs 1,670 crore in new shares for a 50.1 per cent stake in the JV, and Sanmina, the world’s sixth largest electronics manufacturing services company (EMS), will own the rest. Thanks to the investment, the JV will be capitalised with $200 million of cash to fund its growth.

Reliance’s investment will initially