Will 20% stake in RIL's refining and petchem business satisfy Saudi Aramco

August 13, 2019 |
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Will 20% stake in RIL's refining and petchem business satisfy Saudi Aramco

Mumbai: Following the announcement about fdi by Reliance Chairman Mukesh Ambani, , talks are underway about Saudi Aramco. With a 20 per cent stake in Reliance Industries and a foreign investment worth Rs 5 lakh crore, it is doubtful whether Saudi Aranco's target is Reliance or to gain a foothold in India's business. 

Now, there are signs that USD 44 billion is expected to be invested in Maharashtra's ongoing West Coast refinery project. This is estimated to be around Rs 3 lakh crore. Ratnagiri Refinery and Petro Chemicals Limited are currently facing difficulties in land acquisition. 

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