Reliance Industries’ arm, Sanmina create manufacturing joint venture in India

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

03 Mar 2022 Evaluate

Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Reliance Industries (RIL), and Sanmina Corporation (Sanmina) have entered into an agreement to create a joint venture through an investment in Sanmina’s existing Indian entity (Sanmina SCI India, ‘SIPL’). This partnership will leverage Sanmina’s 40 years of advanced manufacturing experience and Reliance’s expertise and leadership in the Indian business ecosystem. The day-to-day business will continue to be managed by Sanmina’s existing management team in Chennai, which will be seamless from an employee and customer perspective.

The joint venture will create a world-class electronic manufacturing hub in India, in line with the Hon’ble Prime Minister's “Make in India” vision. The joint venture will prioritize high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale datacenters), medical and healthcare systems, industrial and cleantech, and defense and aerospace. In addition to supporting Sanmina’s current customer base, the joint venture will 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 start-up ecosystem in India, as well as promote research and innovation of leading-edge technologies.

RSBVL will hold 50.1% equity stake in the joint venture entity with Sanmina owning the remaining 49.9%. RSBVL will achieve this ownership primarily through an investment of upto Rs 1,670 crore in new shares in Sanmina’s existing Indian entity, while Sanmina will contribute 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.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Reliance Industries Share Price

1308.85 29.15 (2.28%)

10-Jul-2026 16:59 View Price Chart

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Company Name	CMP
Reliance Industries	1308.85
Indian Oil Corpn.	138.95
Bharat PetroleumCorp	309.70
HPCL	395.35
MRPL	162.45
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