India’s Mukesh Ambani expects to seal Saudi Aramco deal as Al Rumayyan joins RIL board
- Date: 30-Jun-2021
- Source: Zawya
- Sector:Oil & Gas
- Country:Saudi Arabia
India’s Mukesh Ambani expects to seal Saudi Aramco deal as Al Rumayyan joins RIL board
Yasir Othmann Al Rumayyan, Chairman of Saudi Aramco and governor of the kingdom's wealth fund, PIF, has been inducted into the board of Indian conglomerate Reliance Industries (RIL), triggering hopes that the Aramco-RIL deal could be sealed this year.
At the Reliance Annual General Meeting (AGM) on Thursday, Chairman Mukesh Ambani said that Al Rumayyan will join the board of RIL as an independent director.
RIL's AGM is a keenly watched event by investors considering that the company is one of India's the top three firms by market capitalisation.
"Delighted To Welcome Saudi Aramco Chairman On Reliance Industries Board," Mukesh Ambani said at the 44th Annual General Meeting of Reliance Industries.
"He [Yasir Al Rumayyan] is one of the most renowned names in energy finance and technology globally. I am sure that we will immensely benefit from his rich experience with one of the world's largest companies, and also one of the largest Sovereign Wealth Funds in the world," Ambani said.
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