Despite U.S. President Donald Trump on Wednesday (March 11, 2026) asserting on social media (Truth Social) that Reliance Industries Ltd (RIL) could be investing in a brand new refinery within the U.S., calling it a “historic” $300 billion deal, RIL remained mum all through the day.
The firm didn’t make any announcement neither knowledgeable something to inventory exchanges, fuelling speculations on the veracity of Mr. Trump’s claims.
On a day when the inventory market was down practically 2%, the RIL inventory closed 1.27% decrease at ₹1,391.10 on the BSE.
According to Mr. Trump’s social media submit, the refinery could be constructed in Brownsville, Texas and this could be the primary new refinery within the U.S. prior to now 50 years.
Describing it as the cleanest refinery on this planet, Mr. Trump stated it could gas U.S. markets and strengthen nationwide safety.
Following the announcement, J.P. Margan in a notice stated this refinery is perhaps much less about capex depth and extra about profitability.
“Reliance is reportedly planning to invest $300 billion in the U.S. to open a new refinery in Texas. We estimate initial capex to be a small portion of this target, and it is possible Reliance could involve partners to reduce the total capex outflow,” it stated.
“We believe assuring profitability for such a project remains key, and potential government incentives could prove supportive,” it added.
According to J.P. Morgan’s estimates, a typical 30 million tonne refinery (a possible measurement for the primary part of the mission) might hypothetically price $60 billion.
“Capex could be higher if associated petrochemical facilities are planned for a project of this magnitude. Given the size, it is likely that Reliance would engage with local partners and, assuming a stake of 50% with a 30-70% equity-debt funding mix, we estimate RIL’s implied equity investment could be $10 billion,” J.P. Morgan stated.
