RIL, Brookfield, and Digital Realty teams up to invest in d

On Monday, Reliance Industries Ltd. announced a deal to invest with Digital Realty and Brookfield Infrastructure in special-purpose entities building data centres in India. According to a statement from the firm, RIL will own a 33.33 per cent share in each of the five Indian special purpose entities and will join as an equal partner. A 50:50 joint venture between Texas-based Brookfield Infrastructure and Mercury Holdings SG Pte. Ltd. would build data centres in India via SPVs. Five Indian enterprises are 100% owned by Mercury Holdings through Mercury India SG FDI Pte Ltd, a fully-owned company in Singapore. In a regulatory statement, RIL stated that it had reached an agreement to invest a total of Rs 378 crore with Mercury Holdings, Mercury India SG FDI Pte Ltd, and each of the Indian SPVs.

Up to Rs 622 crore, as and when calls are made, RIL has also agreed to invest additional sums in the equity and debt securities of the Indian SPVs and any other new SPVs that Mercury India SG FDI Pte. Ltd may establish. By acquiring a 33.33 per cent share in the SPVs, RIL is once more pitted against Gautam Adani, whose joint venture with EdgeConneX aims to construct a 1 GW platform for sustainable energy data centres by 2030. With more than 300 data centres spread across 27 countries, according to RIL, Digital Realty is the world's leading supplier of cloud and carrier-neutral data centres, colocation, and interconnection solutions.