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Reliance Industries Ltd (RIL) Chairman Mukesh Ambani hopes to formalize its partnership and the oil-to-chemicals deal with Saudi Aramco this year, Reuters reported.
Aramco Chairman Yasir Al-Rumayyan will also join RIL as an independent director, Ambani added.
In 2019, Reliance announced a sale of a 20% stake in its oil-to-chemicals business for $15 billion to Saudi Aramco.
In October 2020, a senior executive at Saudi Aramco said that the company may finalize the acquisition of a stake in RIL’s oil-to-chemicals business by 2021.
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