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Informist, Wednesday, Mar. 11, 2026

 

--Trump: RIL to invest in new refinery in US 

 

MUMBAI – US President Donald Trump Wednesday thanked Reliance Industries Ltd. for its investment to set up a new refinery in Brownsville, Texas. America First Refining is opening the refinery as part of a $300 billion deal, "the biggest in US history", Trump said in a post on his social media platform, Truth Social.

 

"THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY, A MASSIVE WIN for American Workers, Energy, and the GREAT People of South Texas!," he said. "Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous Investment."

 

Trump further said the new refinery at the port of Brownsville will "fuel US markets, strengthen our national security, boost American energy production, deliver billions of dollars in economic impact, and will be the cleanest refinery in the world".

 

For the December quarter, Reliance Industries reported a consolidated net profit of INR 186.45 billion on revenue of nearly INR 2.70 trillion. On Tuesday, shares of the company ended at INR 1,408.80 on the National Stock Exchange, down 1% from the previous close.  End

 

US$1 = INR 91.80

 

Reported by Anshul Choudhary

Edited by Tanima Banerjee

 

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