‘Biggest in US history’: Trump announces $300 bn refinery deal, thanks Reliance for investment

US President Donald Trump on Wednesday said Reliance Industries Limited (RIL) will invest in a massive oil refinery project in the United States as part of a USD 300 billion deal that he described as the largest in the country’s history.

In a post on his social media platform Truth Social, Trump said the project will see the first new oil refinery built in the US in 50 years at the Port of Brownsville in Texas.

“America is returning to REAL ENERGY DOMINANCE! Today I am proud to announce that America First Refining is opening the FIRST new U.S. Oil Refinery in 50 YEARS in Brownsville, Texas,” he said.

Calling it a “historic USD 300 billion deal”, Trump said the investment will involve Reliance, which he described as the country’s largest privately held energy company.

“Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous investment,” Trump said.

He said the refinery project at the Port of Brownsville will supply US markets, strengthen national security and boost domestic energy production.

The facility will also support exports, generate thousands of jobs and deliver billions of dollars in economic impact to South Texas, he added.

“A new refinery at the Port of Brownsville will fuel US markets, strengthen our national security, boost American energy production, deliver billions of dollars in economic impact, and will be the cleanest refinery in the world,” Trump said.

The US president also said the investment was attracted by his administration’s “America First agenda”, streamlined permits and lower taxes.

Reliance Industries has not yet publicly commented on the announcement.