Financial Insights

Reliance Industries, Saudi Aramco to re-evaluate proposed investment deal in O2C business

Reliance Industries Limited (RIL) announced on Friday that it has decided to reassess the proposed investment of approximately $ 15 billion by oil giants in Reliance’s petrochemical (O2C) business with Saudi Aramco.

The sale of a 20% stake in the unit was announced in 2019, but was postponed due to the collapse of oil prices and demand due to a pandemic last year.

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