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Reliance ties up with Sanmina for electronics manufacturing in India -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A bird passes by a Reliance Industries logo on its Ahmedabad mart, India. January 16, 2017. REUTERS/Amit Dave

BENGALURU, (Reuters) – Indian conglomerate Reliance Industries announced on Thursday that it will create a joint venture in partnership with Sanmina Corp, a U.S. listed company to produce electronics in the Asian nation.

Reliance will fund 16.7 billion Rupees ($220.86 Million) to acquire new shares in Sanmina’s Indian entity. It will also give it a 50.1% share in the joint venture.

($1 equals 75.6130 Indian rupees).

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