SZO - Aramco Continues Diversification With Reliance Deal
Saudi Aramco's (ARMCO) panned multi-billion dollar investment in India's Reliance Industries is another major diversification move for the world's most profitable company.
The world's top oil producer has signed a letter of intent to take a 20 percent stake in Reliance's oil-to-chemicals business, the Indian conglomerate revealed this week.
It represents one of the largest ever foreign investments in India.
It also represents perfect synergy between the world's largest oil producer and the world's largest integrated refinery and petrochemicals complex.
The complex enjoys a strategic location on India's western coast, putting it in ideal proximity