1 min readUpdated: Mar 11, 2026 08:35 AM IST
US President Donald Trump on Tuesday said the United States is set to build its first new oil refinery in 50 years, backed by investment from billionaire Mukesh Ambani’s Reliance Industries.
In a post on Truth Social, Trump described the development as a “landmark agreement”.
“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY,” he wrote.
The US president also hailed to Reliance Industries, calling the investment by India’s largest privately held energy company “tremendous”.
Reliance operates the world’s biggest oil refinery complex in Jamnagar, India, and has a market capitalisation of about $206 billion.
According to Trump, the upcoming refinery will be built at the port of Brownsville in Texas. He said the project would enhance national security, increase US energy output and generate billions of dollars in economic activity. Trump also claimed it would be “the cleanest refinery in the world.”
The facility is expected to run entirely on American shale oil and is being developed by America First Refining.
