3 months ago
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Despite U.S. President Donald Trump connected Wednesday (March 11, 2026) announcing connected societal media (Truth Social) that Reliance Industries Ltd (RIL) would beryllium investing successful a caller refinery successful the U.S., calling it a “historic” $300 cardinal deal, RIL remained mum passim the day.
The institution did not marque immoderate announcement neither informed thing to banal exchanges, fuelling speculations connected the veracity of Mr. Trump’s claims.
On a time erstwhile the banal marketplace was down astir 2%, the RIL banal closed 1.27% little astatine ₹1,391.10 connected the BSE.
According to Mr. Trump’s societal media post, the refinery would beryllium constructed successful Brownsville, Texas and this would beryllium the archetypal caller refinery successful the U.S. successful the past 50 years.
Describing it arsenic the cleanest refinery successful the world, Mr. Trump said it would substance U.S. markets and fortify nationalist security.
Following the announcement, J.P. Margan successful a enactment said this refinery mightiness beryllium little astir capex strength and much astir profitability.
“Reliance is reportedly readying to put $300 cardinal successful the U.S. to unfastened a caller refinery successful Texas. We estimation archetypal capex to beryllium a tiny information of this target, and it is imaginable Reliance could impact partners to trim the full capex outflow,” it said.
“We judge assuring profitability for specified a task remains key, and imaginable authorities incentives could beryllium supportive,” it added.
According to J.P. Morgan’s estimates, a emblematic 30 cardinal tonne refinery (a apt size for the archetypal signifier of the project) could hypothetically outgo $60 billion.
“Capex could beryllium higher if associated petrochemical facilities are planned for a task of this magnitude. Given the size, it is apt that Reliance would prosecute with section partners and, assuming a involvement of 50% with a 30-70% equity-debt backing mix, we estimation RIL’s implied equity concern could beryllium $10 billion,” J.P. Morgan said.
