Reliance Industries to Inject Rs 60,000 Crore Capital in Jio
Reliance Industries is set to pour Rs 60,000 crore capital in its telecom business, Jio, this fiscal year as the company wishes to roll out its broadband services and expand its wireless network faster, according to two people close to the company.
Additionally, Reliance Jio Infocomm Ltd might also borrow the astronomical sum of Rs 1 trillion, according to those sources who wished to remain anonymous.
“This is being done as Jio wants to fast-track its plan to scale up its capacity and coverage which would require further infusion of funds,” said one of the sources.
Anshuman Thakur, head of strategy and planning at Jio did reveal in an interview on 27 April that the company would keep investing on laying fiber even though it already had the largest optical fiber network in India.
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