Reliance Jio Infocomm, a subsidiary of Reliance Industries (RIL), today announced the signing of a master services agreement (MSA) for tower infrastructure sharing. Under the agreement, Reliance Jio would utilize the telecom tower infrastructure services being provided by Indus Towers to launch its services across the country.

As per the agreement, the pricing would be based on prevailing market rates. The agreement will help in avoiding duplication of infrastructure and preserving the environment. It will ensure seamless services to Reliance Jio customers through Indu's world class tower infrastructure.

Sanjay Mashruwala, managing director, Reliance Jio said, "We are continuing our effort to create a new age network which will provide innovative and empowering digital solutions to every Indian through our high speed 4G services. We are building our network through a combination of infrastructure network that we are creating on our own those that we are renting from quality partners." 

Shares of the company declined Rs 3.5, or 0.35%, to settle at Rs 991.10. The total volume of shares traded was 230,827 at the BSE (Monday).