New Delhi, Reliance Industrial Investments and Holdings Ltd (RIIHL) has entered into binding agreements with Brookfield Infrastructure and its institutional partners, for an investment of Rs 25,215 crore in the units to be issued by the Tower Infrastructure Trust.
At the close of the transaction, the Trust will own 100 per cent of the issued and paid up equity share capital of Reliance Jio Infratel Private Ltd.
Currently, RJIPL has a portfolio of approximately 130,000 communication towers that forms the infrastructure backbone of Reliance Jio Infocomm Ltd’s (Jio) telecommunication network. With plans to build additional towers, the total number of towers is expected to reach approximately 1,75,000.
Jio is an anchor tenant of the tower portfolio under a 30-year Master Services Agreement.
“We are pleased to enter into this long and strategic relationship with Brookfield, which is one of the largest and most respected managers of infrastructure assets globally,” said Mukesh D Ambani, Chairman and Managing Director of RIL.
“We are confident of Brookfield’s abilities to manage this large portfolio of high-quality infrastructure assets and further enhancing value creation opportunities. This transaction demonstrates the belief of global investors in the potential of India’s digital opportunity.”