economy
March 12, 2026
Indian refiner to invest in $300 billion Texas facility
India’s Reliance will partner with America First Refining to develop a facility in Texas, US President Donald Trump has said
TL;DR
- Reliance will partner with America First Refining to build a new oil refinery in Texas.
- US President Donald Trump announced the project, stating it will be the first new US oil refinery in 50 years.
- The refinery is part of a $300 billion investment framework, according to Trump.
- America First Refining received a significant investment and signed a 20-year deal to process shale oil.
- The project aims to address the US shortage of refining capacity for light shale oil and improve the trade imbalance.
- Groundbreaking is expected in the second quarter of 2026.
- The refinery is projected to process 1.2 billion barrels of US light shale oil and produce 50 billion gallons of refined products.
- The development occurs amidst escalating Middle East conflict and rising oil prices.
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