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Asia Pulse: ONGC, SHELL SIGN MOU TO STUDY INDIAN BITUMEN MARKET

Asia Pulse; Feb 09, 2006
MUMBAI, Feb 9 Asia Pulse – The state-owned Oil and Natural Gas Corporation on Wednesday joined hands with Shell Bitumen India Private Ltd to carry out a joint market research to study India's Bitumen and Value Added Bitumen market potential over the next 10 years.
The MoU was signed by ONGC chairman and managing director Subir Raha and Shell India chairman Vikram Singh Mehta.
Under the terms of the MoU, the companies will jointly conduct an economic valuation on investing in a standalone refinery in India, to be established on the east or west coasts.
“In terms of the MoU, any future project or joint ventures, ONGC, MRPL and Shell Bitumen India will jointly formulate commercialisation policies,” a company release said here on Wednesday.
(PTI)

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