{"id":129316,"date":"2019-08-12T09:30:15","date_gmt":"2019-08-12T09:30:15","guid":{"rendered":"https:\/\/www.bnreport.com\/ril-announces-indias-biggest-fdi-deal-saudi-aramco-to-pick-20-stake-in-its-otc-biz\/"},"modified":"2019-08-12T09:30:15","modified_gmt":"2019-08-12T09:30:15","slug":"ril-announces-indias-biggest-fdi-deal-saudi-aramco-to-pick-20-stake-in-its-otc-biz","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/ril-announces-indias-biggest-fdi-deal-saudi-aramco-to-pick-20-stake-in-its-otc-biz\/","title":{"rendered":"RIL announces India\u2019s biggest FDI deal; Saudi Aramco to pick 20% stake in its OTC biz"},"content":{"rendered":"

Reliance Industries<\/a> (RIL) Chairman Mukesh Ambani<\/a> on Monday announced a deal with Saudi Aramco<\/a>, which he termed as India's largest foreign direct investment till date.<\/p>\n

As per the deal, Saudi Aramco will acquire a 20 per cent stake in Reliance's oil-to-chemicals (OTC) business at an enterprise value of $75 billion. Oil-to-chemicals division, formed by combining refining and petrochemicals businesses, coverts petroleum into chemicals and achieved Rs 5.7 lakh crore revenue in FY19.<\/p>\n

Ambani was addressing shareholders at the 42nd AGM of the company in Mumbai. He said the Saudi Aramco deal will take place at an enterprise value of $75 billion, subject to regulatory clearance.<\/p>\n

Saudi Aramco will also supply 5,00,000 barrels per day of crude oil on a long-term basis to RILs Jamnagar Refinery, the worlds largest refining facility as per the deal.<\/p>\n

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia<\/a>. It is one of the largest companies in the world by revenue, and is said to be the most profitablRead More \u2013 Source<\/strong><\/a>
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ET Markets<\/a><\/h5>\n

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Reliance Industries (RIL) Chairman Mukesh Ambani on Monday a..<\/p>\n","protected":false},"author":1,"featured_media":129317,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-129316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nRIL announces India\u2019s biggest FDI deal; Saudi Aramco to pick 20% stake in its OTC biz - Business News Report<\/title>\n<meta name=\"description\" content=\"Reliance Industries (RIL) Chairman Mukesh Ambani on Monday a..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/ril-announces-indias-biggest-fdi-deal-saudi-aramco-to-pick-20-stake-in-its-otc-biz\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RIL announces India\u2019s biggest FDI deal; 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