IndianOil Golden jubilee begins
New Delhi   01-Jul-2009
<b>President releases commemorative stamp to mark the occasion</b> President Pratibha Patil on Tuesday kicked off Golden Jubilee celebrations of IndianOil at New Delhi, with a pledge from the company to invest Rs. 60,000 crore in raising its refining capacity to 80 million tonnes by 2011-12 from 60.20 million tonnes. The President along with Union Petroleum and Natural Gas Minister Mr. Murli Deora and Union Communication Minister Mr. A. Raja also released a commemorative stamp to mark the occasion. Incorporated on June 30,1959 and set up as an oil marketing company in June 1964, the integrated refining and marketing entity has grown into the country's largest commercial enterprise with a turnover of Rs. 2,85,337 crore.