INDIA’S Reliance oil-to-telecoms giant is abandoning a US$15 billion (RM62.3 billion) deal for Saudi Aramco to buy a 20% stake in its oil refining and chemicals unit, it said, as the firm pivots towards renewable energy.
The deal was announced more than two years ago by Reliance chairman Mukesh Ambani, Asia’s richest man, and touted as the biggest foreign investment in the conglomerate’s history.
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