Reliance Industries (RIL) agreed to share its infrastructural facility on the East Coast of the country with Oil and Natural Gas Corporation (ONGC).
Both the companies recently entered into a memorandum of understanding (MoU) in this regard. According to the MoU, both the firms would work out the modalities for sharing infrastructure, identifying additional requirements as well as firming up the commercial terms.
The companies intend to enter into a formal agreement after conducting a joint study that will be spread over the next nine months.
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