Saudi Aramco chairman to join Reliance Industries board

Reliance Industries expects Saudi Aramco deal to formalise this year

June 24, 2021 03:02 pm | Updated 03:21 pm IST - BENGALURU

Mukesh Ambani, Chairman and Managing Director of Reliance Industries. File

Mukesh Ambani, Chairman and Managing Director of Reliance Industries. File

Reliance Industries Ltd said on Thursday Saudi Aramco Chairman Yasir Al-Rumayyan will join the Indian conglomerate's board.

"Al-Rumayyan joining our board is also the beginning of internationalisation of Reliance," Chairman Mukesh Ambani told shareholders on Thursday.

Harvard educated, Mr. Al-Rumayyan (51) will replace Yogendra P Trivedi (92) who has expressed desire to retire, Mr. Ambani said.

Reliance had announced a sale of a 20% stake in its oil-to-chemicals business for $15 billion in 2019 to Aramco, the world's top oil exporting firm.

However, the deal had stalled after oil prices and demandcrashed last year due to the pandemic.

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