Trump says U.S. will build first refinery in 50 years with investment by India’s Reliance
US President Donald Trump answers a question while speaking at a press conference at Trump National Doral Miami in Miami, Florida, USA, March 9, 2026.
Kevin Lamarque | Reuters
The United States will have its first oil refinery in 50 years, financed by investments from Indian billionaire Mukesh Ambani, President Donald Trump announced Tuesday. Trust Industries.
“IT’S ONE DATE 300 BILLION DOLLAR DEAL – THE LARGEST DEAL IN US HISTORY,” Trump said in a post on Truth Social.
He thanked Reliance Industries, India’s largest private energy company, “for this tremendous Investment”.
According to LSEG data, Reliance owns the world’s largest oil refinery in Jamnagar, India, and has a market value of $206 billion.
Trump said that the new refinery located in the Port of Brownsville, Texas, will “strengthen our National Security, increase American Energy production, provide Billions of Dollars of Economic impact, and be the CLEANEST REFINERY IN THE WORLD.”
The refinery is designed to process 100% American shale oil and is being developed by America First Refining.
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