Historic $300 Billion Deal: Reliance Partners with US for Texas Refinery

US President Donald Trump announced Reliance Industries' investment in a new Texas oil refinery, calling it a historic USD 300 billion deal and a significant win for American workers and energy. However, Reliance Industries has not released an official statement confirming the deal. The refinery will commence construction in 2026.

In a major development, US President Donald Trump has revealed that India's Reliance Industries is set to invest in a new oil refinery in Texas. Trump praised the partnership, describing it as a "historic USD 300 billion deal," lauding its significance for American employment and energy sectors.

This project, slated as the largest of its kind in US history, aligns with Trump's "America First agenda" and has been hailed as a boon for South Texas, promising abundant job opportunities and enhanced national security.

While Trump publicly thanked Reliance and its Indian partners, the company has yet to comment officially on its involvement. The refinery, situated at the Port of Brownsville, is expected to break ground in 2026, with America First Refining reporting a substantial investment and a binding 20-year offtake agreement with a global supermajor.

(With inputs from agencies.)