RIL announces one of India's ?n böyük Aramco to pick 20% stake in its OTC biz
- 12-Aug-2019 9:00 PM
- Journalist: Patrick Knight
Reliance Industries announced a deal with Saudi Aramco; according to this deal the Saudi Arabian Oil Company will acquire 20% stake in Reliances oil-to-chemical business. This deal will value at INR 5,250,000 Million. The oil-to-chemicals division has achieved a revenue of INR 5,700,000 Million in FY19, which is formed by the integration of refining and petrochemicals business.
Saudi Aramco is also planning to supply 5,00,000 barrels of crude oil to the Reliance Industries’ Günd?lik Refinery on daily basis. As per the recent deal, RIL’s Jamnagar Refinery is the world largest refinery facility.
It has a processing capacity of 1.4 million barrels per day and it plans to expand the capacity to 200?? per day by 2030.