 "Reliance")
India’s Reliance Industries said on Thursday it would invest Rs 1670 cr to create a joint venture (JV) with U.S.-listed Sanmina Corp for making electronic products in Chennai.
The JV aims to make hardware for 5G communications, cloud infrastructure, healthcare systems, and defense and aerospace, Reliance said in a regulatory filing.
Reliance will hold a 50.1 per cent stake in the JV after the investment in Sanmina's existing Indian entity through a Reliance unit. Sanmina will contribute its existing contract manufacturing business to the JV.
All manufacturing will initially take place at Sanmina's campus in Chennai, with an option for
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