Reliance takes Jio investment above Rs 1.9 lakh crore after record year
- IBEF
- April 25, 2017
Mumbai: Reliance Industries Limited plans to invest an additional sum of Rs 18,000 crore (US$ 2.79 billion) on its telecom arm, Reliance Jio, which will raise the total amount invested in the venture to more than Rs 1.9 trillion (US$ 29.47 billion). The additional investment would be required to develop its fibre network, as Reliance plans to expand Jio’s 4G reach. Jio has reached 108.9 million subscribers by the end of March 2017, and has started charging for its internet data services from April 2017 after seven months of free services.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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