Yasser al-Rumayan, chairman of Saudi Aramco, has been inducted into the Reliance board

Mumbai, Thursday 24 June 2021

At the 44th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) held online for the second year in a row today, Reliance Industries Limited owner Mukesh Ambani announced that the chairman of Saudi Aramco and the governor of Saudi Arabia's Public Wealth Fund, Yasser Al Rumair has come.

He added that Rumayan's joining the board is also the beginning of Reliance's internationalization and more announcements will be made on the company's international plans in the near future.

Addressing the 44th Annual General Meeting on Thursday, Ambani said he hoped RIL's partnership with Saudi Aramco would be formally announced "soon during this year" once the necessary regulatory approvals were received.

At the 44th AGM, Mukesh Ambani also announced another new business. The company will now venture into the business of eco-friendly green energy. 60 thousand crore will be spent on this business in 3 years.

At its 2019 annual general meeting, Reliance announced the sale of a 20 per cent stake in the oil-to-chemical business to Saudi Aramco. The deal includes two oil refineries and a petrochemical property at Jamnagar in Gujarat. Apart from this, CMD Mukesh Ambani said that since the last annual general meeting, our business and finances have exceeded expectations.

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