(ET)
Saudi Aramco, the world’s most profitable company, is in talks with Indian refining giant Reliance Industries and other companies for investing in refineries and petrochemical projects in the country, CEO Amin Al-Nasser said.
Top Saudi officials, on a visit to New Delhi along with Crown Prince Mohammed bin Salman, said India was the top priority for the world’s biggest crude oil producer, and that the investment plans were over and above the proposed $44-billion refinery beingbeing set up by Aramco and India’s PSU oil companies in Maharashtra.
Aramco did not give details of the proposed investment but Saudi energy minister Khalid al-Falih said the country had an enormous appetite for business in India and that it wanted much more than the refining joint venture already announced. “One project, no matter how large, is not enough,” he said.
