Reliance Industries Ltd on Monday announced an agreement to invest alongside Brookfield Infrastructure and Digital Realty in special purpose vehicles developing data centres in India.

RIL will hold a 33.33 per cent stake in each of the five Indian special purpose vehicles and become an equal partner, the company said in a statement.

Mercury Holdings SG Pte. Ltd is a 50:50 joint venture between Brookfield Infrastructure and Texas-based Digital Realty for data centres in India through SPVs.

Mercury Holdings, through its wholly-owned subsidiary in Singapore — Mercury India SG FDI Pte Ltd — holds 100 per cent in five Indian companies.

RIL said in a regulatory filing that it has entered into an agreement with Mercury Holdings, Mercury India SG FDI Pte Ltd and each of the Indian SPVs to invest an aggregate amount of Rs 378 crore.

The Telegraph

RIL has also committed to investing further amounts in equity and debt securities of the Indian SPVs and any other new SPV that may be set up by Mercury India SG FDI Pte. Ltd up to Rs 622 crore, as and when calls are made, it added.

In taking a 33.33 per cent stake in the SPVs, RIL is again competing against Gautam Adani whose joint venture with EdgeConneX is looking to build 1GW clean energy data centre platform by 2030.

RIL said Digital Realty is the largest provider of cloud and carrier-neutral data centres, colocation and interconnection solutions globally with more than 300 data centres across 27 countries.