New Delhi, Aug 31 - Telecom majors Reliance Communications (RCom) and Aircel are on the verge of signing a $300-million agreement for sharing telecom infrastructure like towers, sources close to the deal said Monday.

'The deal will offer RCom a revenue upside of over Rs.1,500 crore. It will cover end-to-end telecom infrastructure agreement for towers, voice carriage and bulk bandwidth,' said a person privy to the talks.

According to the agreement, the sharing of infrastructure will be across circles where Aircel has rolled out its telecom services and also includes new circles where the company expects to launch services.

RCom, India's second largest telecom operator with a subscriber base of nearly 80 million, will execute this agreement through its tower subsidiary Reliance Infratel in which it holds a 95 percent stake.

The deal will also give Aircel access to Reliance Infratel's nationwide tower infrastructure comprising 50,000 sites and the extensive optic cable fibre backbone of RCom's pan-India telecom network.