Reliance Industries partners America First Refining in $300 billion Texas refinery project

Key facts

• Reliance Industries will invest in America First Refining’s planned $300 billion oil refinery at the Port of Brownsville, Texas, the first new US refinery in 50 years.
• US President Donald Trump announced the project on Truth Social, calling it the biggest investment in US history and thanking Reliance as India’s largest privately held energy company.
• The refinery is expected to supply domestic US fuel markets, boost global energy exports, create thousands of jobs, and deliver billions of dollars in economic impact to South Texas.
• Trump claimed the facility will be the cleanest refinery in the world and attributed the investment to America First Agenda policies of streamlined permits and lower taxes.
• Reliance Industries has not confirmed Trump’s claim; its shares rose 2% to Rs 1,434 on BSE the following day.