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Monday, 12 August 2019

India's biggest FDI deal announced by RIL; Saudi Aramco to pick 20 per cent stake in its OTC biz #TheGRSsolution


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Saudi Aramco to supply oil on a long term basis to Reliance Industries. 

Reliance Industries NSE 0.85 percent (RIL) Chairman Mukesh Ambani announced a deal with Saudi Aramco Today, which he termed as India's largest foreign direct investment. 

As per the deal, Saudi Aramco to acquire a 20% stake in Reliance's oil-to-chemicals (OTC) business at an enterprise value of 75 billion Dollar. 

Saudi Aramco to supply oil on a long term basis to Reliance Industries. 

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Audi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world by revenue and is said to be the most profitable company in the world. 


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