IndianOil signs MoC with Tata Institute of Social Science, Mumbai

India’s largest commercial enterprise and India’s oldest Institute in the field of social works formally joined hands on November 27, 2012 to chart a new future for CSR in IndianOil. A Memorandum of Cooperation (MoC) was signed between the two organisations at CO, New Delhi to conduct Baseline Survey in about 280 villages in the vicinity of 40 locations across 21 States, Impact Assessment of various CSR projects and other CSR activities. The MoC will be valid for a period of 24 months. This is one of the largest study of its kind to be undertaken by any PSU in India till date. In view of the DPE CSR guidelines to implement CSR in ‘project mode’, this study will be useful for IOC to define a clear roadmap for undertaking CSR projects over next 4-5 years. On behalf of IndianOil, Satish Kumar, ED (HR), CO signed the MoC and on behalf of TISS, Dr B Venkatesh, Professor and Chairperson, Centre for Governance and Public Policy signed the document.

Break up Coal India into independent units: FICCI

Industry chamber FICCI called for the opening up of the coal sector and the breaking up of state-owned Coal India Ltd into several independent units. “Coal sector should become more competitive and CIL should be broken up into several units,” R.V. Kanoria, President, FICCI, said after its national executive committee meeting here in New Delhi. “A graduated and controlled break up of CIL will create competition,” he added. According to Kanoria, the Government should consider introducing management contracts in the coal sector.

IndianOil exploring Refinery at west coast

India's largest Refiner, IndianOil is examining possibilities of 15 Million Metric Tonne refinery at the west-cost. IndianOil's present refining capacity of 54.20 MMT will be raised to 100 MMT by 2020-21, said Mr RajKumarGhosh, director (Refineries), IndianOil while addressing the media in Delhi. Talking about Paradip Refinery under implementation, Mr Ghosh said the 30,000 crore refinery will change the skyline of Paradip and will accelerate industrial development of Orissa in a big way.

Greentech CSR Award 2012’ to NTPC

NTPC has been awarded ‘Greentech CSR Award 2012’ in Gold Category in Power Sector by Greentech Foundation recently. The award was presented by Shri Bhaskar Chatterjee, IAS, Director General, Indian Institute of Corporate Affairs, Ministry of Corporate Affairs, Govt of India, in the presence of distinguished business and public leaders and CSR experts at the 13th Annual Global Environment and CSR Conference at Hyderabad. Shri SK Jain, GM (CSR) received the award on behalf of NTPC.

The Greentech Awards serve as a catalyst in understanding the intrinsic value of Corporate Social Responsibility in business excellence and sustainability.

The award aims to recognize exemplary operations, systems and the evidence of their impact to business vitality. This recognition to NTPC has been solely on the merit of its CSR activities, as NTPC follows the global practice of addressing the CSR fundamentals.

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