Reliance Jio all-set to roll out 5G Spectrum network

2 Aug 2022 , 09:17 AM

Reliance Industries’ telecommunication arm ‘Jio’ announced the acquisition of spectrum in 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz bands in the auctions conducted by the Department of Telecommunications, Government of India.

This acquisition will enable the telecom provider to build the world’s most advanced 5G network and bolster India’s global leadership in wireless broadband connectivity.

Jio’s 5G network will unlock the next generation of digital solutions which will help in accelerating India’s AI-driven rally towards becoming a $5 trillion economy.

Within only six years, Jio has set several world records during its rollout of the largest 4G network in the shortest period of time. Jio’s 4G network is of the highest quality and offers the most affordable digital services to over 400 million loyal and satisfied customers. Jio now seeks to raise the bar with its exceptional performance for the 5G network.

For Jio, the total cost of acquiring the right to use the above technology agnostic spectrum for a period of 20 years is Rs88,078 crore. As per terms of the spectrum auction, the company will make the spectrum payments over 20 equated annual installments, with an interest rate of 7.20% per annum.

The annual provisional cost for the company will be Rs7,877 crore, which is subject to DOT confirmation.

In total, Jio has acquired 220 — 700MHz spectrums, 20 — 800MHz spectrums, 60 — 1800MHz spectrums, 2440 — 3300MHz spectrum, and 22,000 — 26GHz spectrums across India.