RIL 42nd AGM: Mukesh Ambani announces partnership with Saudi Aramco. Here are the top highlights

Mukesh Ambani, the chairman of Reliance IndustriesNSE 10.18 % Limited, today addressed the 42nd Annual General Meeting of the oil-to-telecom conglomerate held at Birla Matoshri in Mumbai. The markets closely monitored the speech of the RIL chairman for new announcements and also for plans to cut down the debt on its books.

Here are the top highlights from Mukesh Ambani’s speech
*Saudi Aramco and RIL have agreed to form partnership will invest in RIL for 20% stake in our oil-to-chemical business or $75 bn or over 5.3 lakh crore. Saudi Aramco will supply 500,000 barrels of oil to Jamnagar refinery.

*Reliance to get Rs 7,000 cr by selling 49% stake in its fuel retail business to BP.