Lanka IOC (LIOC) has pledged 20 million Sri Lankan rupees (about A$246,500 or US$192,000) for relief and rehabilitation work to help with damage from the tsunami that has killed more than 23,000 people along the island nation’s east coast.
LIOC senior vice president S Srinivasan handed the $20m rupee cheque to Sri Lankan Prime Minister Mahinda Rajapakse in Colombo on Monday.
Lanka IOC entered the Sri Lankan petroleum market in 2002 as a wholly-owned subsidiary of Indian Oil Corporation Limited (IOCL) to set up bulk storage and retail facilities. It currently has close to a 30% market share.
Last week LIOC delivered Sri Lanka’s largest IPO, which was over-subscribed more than 11 times.
Meanwhile, state-owned oil and gas companies have launched relief work in tsunami-ravaged districts of southern India, according to the World News Onlypunjab.com news service.
According to the petroleum ministry, the oil companies have moved to help people in the affected areas of Tamil Nadu, Andhra Pradesh and Pondicherry.
The Indian Oil Corp (IndianOil), Bharat Petroleum Corp (BPCL), the Hindustan Petroleum Corp (HPCL) and Oil and Natural Gas Corp (ONGC) together distributed over 28,000 food packets and food articles Sunday in the affected areas.
"In addition to the food articles, the companies dispatched medical teams with ambulances and arranged tents, clothes, free fuel for vehicles used for transporting victims as well as relief material to the victims at different places," Petroleum Minister Mani Shankar Aiyar said in Chennai.
