Oil India on Tuesday joined hands with two startp companies for treating drilling water at its wells across Assam.
As part of an IIT-Guwahati initiative, Oil India today signed agreements with two start up firms – Innovative Interventions and RD Grow Green – for working in Assam.
Oil India chairman and MD Utpal Bora said the start ups will work from August this year.
“Eventually Oil India will hold 26 per cent stake in the companies. Oil India is the first PSU oil firm to encourage start ups,” he said.
Oil India is presently confined only to the North East in promoting start ups, but will expand to rest of India gradually, Bora said.
Latest posts by Business-Standard.com (see all)
- India’s Refiners Bet Big On Petrochemicals As Industry Reshapes – August 11, 2017
- Govt Tweaks HPCL’sTerms Of Sale To ONGCTo Avoid ‘open Offer’ – August 9, 2017
- Oil Falls For Third Day As Doubts Over OPECCuts Linger – August 9, 2017