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Trump says the U.S. will see its first refinery in 50 years, invested by Reliance Industries
Investing.com – U.S. President Donald Trump announced on Tuesday that the United States will have its first refinery in 50 years, with funding from Reliance Industries, owned by Indian billionaire Mukesh Ambani.
Trump posted on Truth Social that this is a historic $300 billion deal, the largest in U.S. history. He thanked Reliance Industries for their investment.
The new refinery will be located at the Port of Brownsville, Texas. Trump said the project will enhance national security, boost U.S. energy production, and generate billions of dollars in economic impact.
He added that it will be the cleanest refinery in the world.
The refinery is designed to process 100% U.S. shale oil, developed by America First Refining.
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