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RIL to make major investment in US refinery: Trump
Mint Mumbai
|March 12, 2026
IndiGo and Air India Group said to have sought the relief following the West Asia conflict
Donald Trump thanked Reliance for the investment.
(AP)
In the wee hours of Wednesday, India time, President Donald Trump announced that Reliance Industries Ltd will partner America First Refining to set up the first new refinery in the US in nearly 50 years, in a deal valued at $300 billion.
Reliance Industries, however, had not confirmed the development as of press time. Shares initially surged but reversed to close 1.27% lower at 1,391.1 on the BSE, while the Sensex ended 1.72% down.
This story is from the March 12, 2026 edition of Mint Mumbai.
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