India's Reliance Industries Ltd is set to sell a 20% stake in its oil to ch...
FILE PHOTO: A woman walks past a poster of Reliance Industries installed outside the venue of the company's annual general meeting in Mumbai June 7, 2012. REUTERS/Vivek Prakash/File Photo
“ the biggest foreign investment in the history of Reliance,” Ambani said at the company’s annual general meeting in India’s financial capital Mumbai.The deal valued the business at $75 billion including debt, he said. Saudi Aramco will also supply 500,000 barrels a day of crude oil on a long-term basis to RIL’s Jamnagar refinery, Ambani said.
The partnership will cover all of Reliance’s refining and petrochemical assets, including its 51% stake in the petroleum retail joint venture, he said.
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