Saudi Aramco chairman to be on board of Reliance Industries

PTI, Jun 24, 2021, 3:35 PM IST

Credit: Reuters Photo

Mumbai: Saudi Aramco chairman and head of Kingdom’s cash-rich wealth fund PIF, Yasir Othman Al-Rumayyan will join the board of Reliance Industries as an independent director in a precursor to a USD 15 billion deal.

Reliance chairman and Asia’s richest man Mukesh Ambani, who had two years back disclosed talks to sell a 20 per cent stake in the company’s oil-to-chemical (O2C) unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company’s annual meeting of shareholders.

Harvard educated, Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed desire to retire, Ambani said at the company’s annual shareholder meeting.

On the sale of 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.

“We look forward to welcoming Saudi Aramco as a strategic partner in our O2C business,” he said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

‘JioPhone Next’ to be most affordable smartphone; will be available from Sept 10: Ambani

Reliance raised Rs 3.24 lakh cr capital through equity sale, rights issue, asset monetisation: Ambani

MUST WATCH

New Technology In Kambala

Lakshdeepotsava 2024 Shree Krishna Mutt

Punganur Cow

Rangoli design

Jagadeesh Nagaraj Kudupali Audio Viral

Latest Additions

Cow smuggler dead, six others injured after their vehicle overturns during police chase

Assam bypolls: Samaguri Cong candidate alleges rigging by BJP, demands repolling

Who in Congress has said Article 370 will be restored? Shah spreading lies: Kharge

All arrangements in place to ensure smooth darshan at Sabarimala shrine: Kerala police

Delhi pollution: Mothers’ group write to health minister, highlight respiratory issues among kids

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.