Asia’s richest man Mukesh Ambani on Wednesday said his group’s planned stake sale in oil-to-chemical business to Saudi Aramco for an asking of Rs 1,500 crore (USD 15 billion) has not progressed as per original timelines due to Covid-19.
“We value our two-decade relationship with Aramco and are committed to a long-term partnership,” Ambani said at Reliance Industries’ annual general meeting.
He, however, did not say if the deal was on track or give a new timeline for its completion.
“Deal with Saudi Aramco hasn’t progressed per original timeline due to unforeseen situation in the energy market and Covid-19 situation,” he said.
