News > Aramco eyes new investments in India after Reliance scraps deal

Aramco eyes new investments in India after Reliance scraps deal

Headlines Today | 22/11/2021 08:02 PM | Click to read full article

Saudi Aramco said it will continue to look for investment opportunities in India, days after Reliance Industries Ltd. scrapped a plan to sell a stake in its oil-to-chemicals unit to the Middle Eastern company.

Aramco had signed a non-binding letter of intent in August 2019 for a potential 20% stake in Reliance’s oil-to-chemicals unit valued at about $15 billion. Reliance said the companies would walk away from the deal on Friday.