Reliance to Back First New US Refinery in 50 Years in $300 Billion Deal, Says Trump
According to Trump, the project represents a historic $300 billion deal, which he described as the largest investment agreement in US history. The announcement highlights growing energy cooperation between the United States and India.
Trump said the new refinery will mark a significant milestone for the US energy sector, as no new refinery has been built in the country in five decades. The facility is expected to strengthen domestic refining capacity and support long-term energy security.
The US President also expressed appreciation for India’s role in the investment, thanking partners in India and specifically acknowledging Reliance Industries as the largest privately held energy company in India for backing the project.
The development signals a major cross-border energy partnership and could reshape investment flows in the global refining industry if the project moves forward as announced.
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