Electronic manufacturing hub
Reliance Strategic Business Ventures Limited (RSBVL) has entered into an agreement with Sanmina Corporation. The joint venture meant to create a world-class electronic manufacturing hub in India.
RSBVL will hold a 50.1% equity stake in the joint venture entity with Sanmina owning the remaining 49.9%, RIL said. RSBVL will achieve this ownership primarily through an investment of up to Rs 1,670 crore in new shares in Sanmina’s Indian entity
Sanmina will contribute to its existing contract manufacturing business. As a result of the investment, the joint venture will be capitalized with over $200 million of cash to fund growth. The venture will prioritize high technology infrastructure hardware for market growth across industries
