Saudi shows interest in partnering with RIL for investments in oil, telecom

No formal proposal has been made by either side, according to people in the know

Oil-rich Saudi Arabia has been discussing opportunities to partner Mukesh Ambani-promoted Reliance Industries (RIL) for investments and cooperation across segments - from oil to telecom.

“I was delighted today (Tuesday) to meet with (Mr Mukesh) Ambani, chairman of Reliance #RelianceIndustries, where we discussed opportunities for joint investments and cooperation in petrochemicals, refining, and communications projects in Saudi and India,” said Khalid A Al-Falih, Minister of Energy, Industry and Mineral resources for Saudi Arabia in a tweet put out in Arabic on Monday, along with a picture with RIL Chairman Mukesh Ambani.

RIL spokesperson declined to comment on the development.

According