Reliance Industries Ltd has declared Saudi Aramco chairman Yasir Al-Rumayyan will join the Indian conglomerate’s board yesterday.
Reliance had declared a sale of a 20% stake in its oil-to-chemicals business for $15 billion in 2019 to Aramco, the world’s top oil-exporting firm.
RIL chief Mukesh Ambani said during the company’s 44th annual general meet that, “We look forward to welcoming Saudi
Aramco
as a strategic partner,”
He further said, “We expect to formalise the partnership with Saudi Aramco this year,”
The deal has impeded after oil prices and demand crashed last year due to a pandemic. However, Ambani said that Reliance has raised Rs 3,24,432 crore capital through equity sale in Jio Platform and retail, rights issue, asset monetisation.
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