Working to complete contours of Saudi Aramco deal: Mukesh Ambani
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) on Tuesday said it is working to complete contours of a $15-billion deal with Saudi Aramco but did not give a timeline for its completion.
Richest Indian Mukesh Ambani in August last year announced talks for sale of 20 per cent stake in the oil-to-chemical (O2C) business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world’s largest oil exporter. The deal was to be concluded by March 2020 but has been delayed.
“Reliance is working to complete the contours of a strategic partnership with Saudi Aramco,” Ambani said in the firm’s latest annual report without giving timelines.
