RIL working to complete strategic tie up with Saudi Aramco: Mukesh Ambani

TIL Desk/Business/New Delhi/ Reliance Industries Ltd (RIL) is working to complete the contours of a strategic partnership with Saudi Aramco, Chairman and Managing Director Mukesh Ambani said in a letter to shareholders.

In the letter to shareholders in RIL”s annual report for 2019-20, Ambani said in the energy businesses, Reliance is working to complete the contours of a strategic partnership with Saudi Aramco.

“The partnership gives our refineries access to a wide portfolio of value-accretive crude grades and enhanced feedstock security for a higher oil-to-chemicals conversion,” he added.

In the fuel retail business, Reliance and BP formed a new JV to grow the retail service station network and aviation fuels business across India.

During FY 2019-20, Reliance executed the next phase of its growth journey, forging transformative partnerships across businesses, Ambani said.