Reliance on Monday announced that Saudi Aramco, the world’s biggest oil company, will acquire 20 per cent stake in Reliance Industries Limited (RIL)’s refining and petrochemicals business. The deal has an enterprise value of $75 billion, which will make it the country’s biggest FDI.
RIL, which has a net liability of $36.9 billion, announced that it intends to become debt-free by 2021.
The Saudi state-owned oil company has been aggressively buying stakes and entering into joint ventures with large companies in South Korea, Malaysia and China.
As part of the deal, Aramco will supply 5 lakh barrels of crude oil per day to RIL’s Jamnagar refinery.
Bargarh: A new artist will be selected to play the mythological character King Kansa during…
Mumbai: Suhana Khan will be making her Bollywood debut with ‘King’ along with her superstar…
New Delhi: After Diljit Dosanjh called out the double standards of Telangana government for banning…
New Delhi: Recent actions and counter-actions in the Russia-Ukraine conflict have pushed the world to the…
Balangir: Three persons were arrested and fake IPS officers’ uniforms along with fake identity cards…
Mumbai: Abhishek Bachchan’s highly-anticipated film ‘I Want To Talk’ released in theatres on Friday, and the…
New Delhi: Accused of giving cash to secure votes ahead of election day in Maharashtra,…
Bhubaneswar: Chief Minister Mohan Charan Majhi attended the ‘Odisha State Day Celebrations’ at the 43rd…