IBNS-CMEDIA: US President Donald Trump on Tuesday announced plans to build the first new oil refinery in the United States in nearly 50 years, backed by investment from Reliance Industries of India.
The refinery will be constructed in Brownsville, Texas, Trump said in a post on the social media platform Truth Social.
He described the project as a “historic” USD 300 billion deal.
“THIS IS A HISTORIC $300 BILLION DEAL — THE BIGGEST IN U.S. HISTORY, A MASSIVE WIN for American workers, energy, and the great people of South Texas,” Trump said.
The US president thanked India-based Reliance Industries for its participation in the investment.
“Thank you to our partners in India, and their largest privately held energy company, Reliance, for this tremendous investment,” he said.
Trump added that his administration’s “America First” policies — including faster permits and lower taxes — had helped attract major investments back into the country.
According to Trump, the refinery will be located at the Port of Brownsville and will supply fuel to US markets, strengthen national security, boost domestic energy production, and generate billions of dollars in economic impact.
He said the facility would be the “cleanest refinery in the world,” powering global exports while bringing thousands of jobs and economic growth to South Texas.
“This is what American energy dominance looks like. America First, always!” he said.
The announcement comes at a time when global oil and gas markets are facing uncertainty amid escalating tensions in the Middle East following the killing of Iran’s Supreme Leader Ali Khamenei, in a US-Israeli strike on Tehran on February 28.
