Reliance to invest in first new US oil refinery in 50 years, says Trump; calls $300 billion Texas project ‘historic deal’

Mukesh Ambani's Reliance Industries will partner in building the first new oil refinery in the United States in 50 years, a $300 billion project planned at the Port of Brownsville in Texas, US President Donald Trump said on late Tuesday, calling it the “biggest in U.S. history” and a major boost for American energy production.

Announcing the project on social media platform Truth Social, Trump said the refinery would be developed by America First Refining with investment support from India’s largest private sector company, Reliance Industries.

“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,” Trump wrote, adding that the project represents a “historic $300 billion dollar deal.”


He described the investment as “the biggest in U.S. history” and thanked “our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous Investment.”

Reliance Industries hasn't yet confirmed Trump's claim. The company's shares, however, gained 2% to their day's high of Rs 1,434 on the BSE on Wednesday.

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The refinery will be built at the Port of Brownsville, a key Gulf Coast shipping hub, and is expected to supply fuel to domestic markets while also boosting global energy exports from the United States.

“A new Refinery at the Port of Brownsville will fuel U.S. Markets, strengthen our National Security, boost American Energy production, deliver Billions of Dollars in Economic impact,” Trump said in the post.

He also claimed the facility would be environmentally advanced, calling it “THE CLEANEST REFINERY IN THE WORLD.”

The project, according to Trump, is expected to create thousands of jobs and deliver significant economic activity in South Texas.

“It will power Global Exports, and bring THOUSANDS of long overdue Jobs and Growth to a Region that deserves it,” he said.

Trump linked the investment to his administration’s economic policies, saying streamlined permits and lower taxes had helped attract major capital inflows.

“It is because of our America First Agenda, streamlining Permits, and lowering Taxes, that have attracted Billions of Dollars in Deals coming back to our Nation,” he said.