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Lanka IOC contributes 20 Million Sri Lankan Rupees for relief work in Sri Lanka

New Delhi, 27th December, 2004

Lanka IOC (LIOC), which till recently was a fully owned subsidiary of Indian Oil Corporation Ltd (IOC), today came forward to donate Sri Lankan Rupees (SLR) 20 Million (approximately INR 1 Crore) for relief and rehabilitation work in Sri Lanka, which is one of the countries badly affected during yesterday's Tsunami.

The cheque for SLR 20 Million was handed over to the Prime Minister of Sri Lanka, Mr. Mahinda Rajapakse by LIOC's Dy Managing Director, Mr. S.Srinivasan, in Colombo today.

It may be recalled that Lanka IOC, entered the Sri Lankan petroleum market in 2002 to set up bulk storage and retail facilities in that country. Today LIOC commands nearly 30% market share there. Recently, LIOC also came out with the country's largest IPO, which was over-subscribed more than 11 times.

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