FILE PHOTO: A girl walks previous a poster of Reliance Industries put in outdoors the venue of the corporate’s annual common assembly in Mumbai June 7, 2012. REUTERS/Vivek Prakash/File Picture
MUMBAI (Reuters) – India’s Reliance Industries Ltd (RELI.NS) is ready to promote a 20% stake in its oil to chemical substances enterprise to Saudi Aramco in one of many largest ever international investments within the nation, Reliance Chairman Mukesh Ambani mentioned on Monday.
“(That is) the most important international funding within the historical past of Reliance.” Ambani mentioned on the firm’s annual common assembly in India’s monetary capital Mumbai.
“It is usually amongst the biggest international investments ever in India,” mentioned Ambani, including the deal values the enterprise at $75 billion together with debt.
The partnership will cowl all of Reliance’s refining and petrochemicals property, Ambani mentioned.
Reporting by Promit Mukherjee and Abhirup Roy; Modifying by Sonali Paul