New Delhi: Reliance Industries, led by billionaire Mukesh Ambani, will invest in the construction of a new oil refinery in the United States. US President Donald Trump announced the development, saying the refinery would be “the largest in American history.”
According to America First Refining (AFR), the new refinery will be built in Brownsville, Texas, and will be designed to run entirely on US shale oil. The foundation stone for the project is expected to be laid in the second quarter of 2026. Reliance has also signed a 20-year agreement to purchase oil produced from the refinery.
In a post on Truth Social, Trump described the initiative as a “historic $300 billion deal” and named Reliance as a partner in the project. However, AFR did not name the company directly and said it had received a nine-figure investment at a ten-figure valuation from a “major global company.” Reliance has not issued any immediate comment on the announcement.
Once completed, it will become the first major new refinery project in the United States since the Marathon refinery facility in Garyville, Louisiana, came online in 1977.
Neither Trump nor AFR has provided detailed financial information or a timeline for the project’s completion. Industry experts estimate the project could cost between $4 billion and $5 billion. The refinery will also mark the first time Reliance constructs a refinery in the United States.
