In a major achievement by the Reliance Group, they are all set to build a new clean energy based refinery project, this time in the United States. Reliance Industries also runs the world’s biggest refinery at Jamnagar in Gujarat in India. Gujarat origin Ambanis who own Reliance led by Mukesh Dhirubhai Ambani is all set to build a refinery in America. This will be America’s first refinery after a gap of 50 years. Mukesh Ambani is Asia’s richest man and is known for his industrial acumen and philanthropy.
Shares of Reliance Industries traded mixed on Wednesday after Donald Trump said the conglomerate led by Mukesh Ambani would back a new oil refinery project in the United States — a facility he described as the first such refinery to be built in the country in 50 years.
The stock initially surged 1.78% to ₹1,434 per share on the National Stock Exchange of India, tracking investor enthusiasm over Reliance’s involvement in the project.
Trump made the announcement in a post on the social media platform Truth Social, saying a company called America First Refining would build the new refinery in Brownsville, Texas, near the United States–Mexico border.
“I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas,” Trump wrote.
He wrote:
“I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas,” Trump said Tuesday in a post on Truth Social.
Reliance Industries identified only as a “global supermajor” in the America First statement but named by Trump in a post on Truth Social provided a “9-figure investment” at a “10-figure valuation”. The company, led by Asia’s richest man Mukesh Ambani, has also signed “a binding 20-year offtake term sheet” with America First, meaning the company will buy products the refinery produces.
While the refinery developer described its investor only as a “global supermajor”, Trump directly identified Reliance Industries as the backer. According to the statement, Reliance has made a nine-figure investment in the project at a ten-figure valuation.
The Indian energy giant has also signed a binding 20-year offtake term sheet with America First Refining, committing to purchase products produced by the refinery once it becomes operational.
The planned refinery will have a capacity of 168,000 barrels per day and is expected to break ground in the second quarter of 2026 at the Port of Brownsville. Project developers say the facility could help narrow the US trade deficit by expanding domestic refining capacity.
The project comes at a time when several refineries along the US Gulf Coast face challenges processing the surge of light, sweet crude oil produced from shale fields in the United States. Many of these older facilities were originally configured to process heavy, sour crude, which is denser and contains higher sulphur content.
Reliance Industries, however, operates the massive Jamnagar Refinery Complex in Gujarat, widely regarded as the largest refining complex in the world, capable of processing 1.4–1.6 million barrels of crude per day. The refinery is known for its ability to process a wide range of crude grades.
In a recent development, Reliance also secured a US licence to import oil from Venezuela, whose heavy crude grades align well with the configuration of its refining infrastructure.
“I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas,” Trump said Tuesday in a post on Truth Social.
Reliance Industries identified only as a “global supermajor” in the America First statement but named by Trump in a post on Truth Social provided a “9-figure investment” at a “10-figure valuation”. The company, led by Asia’s richest man Mukesh Ambani, has also signed “a binding 20-year offtake term sheet” with America First, meaning the company will buy products the refinery produces.
US President Donald Trump on Truth Social.
Also Read: India’s Akshaya Patra: Mukesh Ambani Pledges Rs 10 Lakh Crore To Make India AI Superpower https://www.vibesofindia.com/indias-akshaya-patra-mukesh-ambani-pledges-rs-10-lakh-crore-to-make-india-ai-superpower/
