Trump Says Reliance Industries to Invest in Texas Oil Refinery Project
US President Highlights $300 Billion Energy Deal
US President Donald Trump has said that India’s Reliance Industries will invest in a new oil refinery project being developed in Texas, describing the agreement as a “historic USD 300 billion deal”. The announcement was made through a social media post on Tuesday.Trump said the project is being enabled by his administration’s “America First agenda” and called it the largest deal in US history. According to the US President, the initiative represents a major development for American energy production and employment.
Reliance Yet to Issue Official Statement
Despite the announcement, Reliance Industries has not issued any official communication regarding the investment or confirmed its involvement in the refinery project.In his post, Trump thanked the company and referred to it as India’s largest privately held energy company. He also expressed appreciation to “our partners in India” for the investment.
Refinery Planned at Port of Brownsville
Trump stated that the new refinery will be built at the Port of Brownsville in South Texas. He said the facility will supply fuel to US markets, strengthen national security, and boost domestic energy production.The project is also expected to generate thousands of jobs in the region, according to the President’s remarks.
AFR Press Release Mentions Investment by Global Energy Major
Separately, a press release issued by America First Refining (AFR) said the company received a nine figure investment in February from a “global supermajor” at a ten figure valuation.AFR also stated that it signed a binding 20 year offtake term sheet with the same energy major. The agreement includes commitments to purchase, process, and distribute energy produced in the United States and sourced from American shale oil.
The press release did not mention Reliance Industries or disclose the exact investment amount involved in the project.
Construction Timeline
According to AFR, the refinery project is expected to break ground in the second quarter of 2026.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
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