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Our Bureau

Mumbai , Feb. 8

SHELL Bitumen India Private Ltd, belonging to the Shell group of companies, and actively involved in the trading, manufacturing and marketing of bituminous products, has joined hands with ONGC on Wednesday to formalise the broad terms of manufacturing and marketing bituminous products, said an ONGC release here on Wednesday.

As per the MoU, signed by Mr Subir Raha, ONGC Chairman and Managing Director, and Mr Vikram Singh Mehta, Chairman, Shell Group of Companies in India, the primary aim is at carrying out a joint market research to evaluate India's bitumen and value-added bitumen (VAB) market potential over the next 10 years. It is also aimed at conducting an economic evaluation of investing in a standalone refinery in India to be established, either on the east or west coast.

Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of ONGC, and Shell Bitumen, would jointly constitute the study team and implementation team for this MoU.

More Stories on : Alliances & Joint Ventures | Petroleum | Oil & Natural Gas Corporation Ltd

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