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RIL announces Saudi Aramco chairman Yasir Al-Rumayyan as independent director Aramco | RIL

RIL announces Saudi Aramco chairman Yasir Al-Rumayyan as independent director

India Blooms News Service | @indiablooms | 24 Jun 2021, 11:07 pm

Mumbai/IBNS: Reliance Industries chairman Mukesh Ambani on Thursday announced Saudi Aramco as its strategic partner and Yasir Al-Rumayyan as an independent director in its board.

“We are delighted to welcome his excellency Yasir Al-Rumayyan, the chairman of Saudi Aramco and the governor of the Public Investment Fund (PIF), to join the board of Reliance Industries Limited as an independent director. Yasir Al-Rumayyan is one of the most renowned names in energy finance and technology globally,” Ambani said during the 44th annual general meeting of the company.

Ambani said RIL will benefit from Yasir Al-Rumayyan’s experience as he comes from one of the world’s largest companies and also from one of the largest sovereign wealth funds in the world.

“His joining marks the beginning of the internationalisation of Reliance,” Ambani said.

He also announced the continuation of RIL's association with British Petroleum, adding that it had led to the production in two of three toughest deep water gas projects owned by Reliance and BP.

He said there will be a rapid resurgence in India's economy in the post-Covid era and Reliance will be one of the major drivers in the new phase.

Among other major announcements, Ambani highlighted Reliance's consolidated revenue of Rs 540,000 crore in the past year and said that it earned a net profit of Rs 53,739 crore.

He also said that Reliance remains as one of the highest GST and income tax payer in the private sector.

“I foresee that Indian economy will bounce back at a rate that will surprise others. Prosperities and opportunities will be created for everyone in a way never seen before,” Ambani said.