Home / Business and Economy / US to Build First New Refinery in 50 Years
US to Build First New Refinery in 50 Years
11 Mar
Summary
- US will build its first new oil refinery in 50 years.
- Reliance Industries Ltd. is investing in the Texas project.
- The refinery is set to process 160,000 barrels daily.
The United States is poised to welcome its first new oil refinery in 50 years, a landmark development spearheaded by America First Refining in Brownsville, Texas. This significant project has secured investment from India's Reliance Industries Ltd., marking a crucial step in bolstering the nation's refining capacity.
The refinery is projected to process 160,000 barrels of oil daily. Element Fuels had previously been developing this site, completing necessary preparations and obtaining permits before the transition to America First Refining. Construction is slated to begin in the second quarter of this year.
A long-term commitment is already in place, with America First Refining signing a 20-year agreement to sell its produced fuels to Reliance Industries. This partnership underscores the international collaboration involved in this major energy infrastructure project.
