India’s Reliance announced on Tuesday closure of a manufacturing joint venture deal with the US-based electronics equipment major Sanmina Corporation.
The joint venture deal between Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), and Sanmina is for setting up an electronics manufacturing hub in India.
The proposed JV facility will produce high technology infrastructure hardware for 5G, cloud infrastructure, medical and healthcare systems, industrial and cleantech and defense and aerospace industries.
The production at the unit will be exported to growth markets, besides catering to the Indian market.
The joint venture will also create a state-of-the-art ‘manufacturing technology center of excellence’ that will serve as an incubation center to support the product development and hardware startup ecosystem in India, as well as promote research and innovation of leading-edge technologies.
“This partnership will leverage Sanmina’s 40 years of advanced manufacturing experience and Reliance’s expertise and leadership in the Indian business ecosystem,” a Reliance media statement said.
“The day-to-day business will continue to be managed by Sanmina’s management team in Chennai, which will be seamless from an employee and customer perspective,” the statement said.
All the manufacturing will take place at Sanmina’s 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs.
Sanmina Corporation, a leading integrated manufacturing solutions provider to the global electronics manufacturing services (EMS) market, is recognised as a technology leader in the sector.
The company provides end-to-end manufacturing solutions to original equipment manufacturers (OEMs), primarily in the communications networks, cloud solutions, industrial, defense, medical and automotive markets.
Sanmina has facilities strategically located in key regions throughout the world.
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