Ambani's Reliance to invest in first US oil refinery in 50 years, says Trump

WASHINGTON/NEW DELHI: (Mar 11) Billionaire Mukesh Ambani's Reliance Industries will partner in building the first new oil refinery in the US in 50 years, US President Donald Trump said, calling it the "biggest in US history".

The new refinery will be located in Brownsville, Texas, and will be designed to run entirely on US shale oil, according to America First Refining (AFR) -- the firm piloting the project.

Reliance has signed a 20-year agreement to purchase fuels produced at the refinery, with groundbreaking for the project scheduled in the second quarter of 2026.