New Delhi, March 11 -- Reliance Industries share price gained over a percent in early trade on Wednesday after US President Donald Trump announced a plan to build a new oil refinery in Brownsville, Texas, with the help of investment from Reliance Industries Ltd. Reliance share price rose as much as 1.74% to Rs.1,433.65 apiece on the BSE.

Trump said the US will get its first new oil refinery in 50 years with the help of investment from India's Reliance Industries Ltd.

"I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas," Trump said Tuesday in a post on Truth Social.

The Texas refinery is the same project that was previously being developed by Element Fuels, which...