IndianOil signs MoU with SDF for ‘IndianOil - shakti’ project to empower budding female athletes
General

IndianOil signs MoU with SDF for ‘IndianOil - shakti’ project to empower budding female athletes

The project, set to commence in the financial year 2024-25, is dedicated to supporting 30 female athletes under the age of 23 in middle and long-distance running categories

  • By ICN Bureau | March 16, 2024

IndianOil Corporation Ltd. (IndianOil) has signed a Memorandum of Understanding with National Sports Development Fund (NSDF) for the "IndianOil Shakti Project," an ambitious initiative under IndianOil’s Corporate Social Responsibility (CSR) program, aimed at nurturing and empowering young female talent in athletics.

The project, set to commence in the financial year 2024-25, is dedicated to supporting 30 female athletes under the age of 23 in middle and long-distance running categories. IndianOil has committed a financial support of nearly ₹16 crores over 36 months to the NSDF. The project will be implemented in collaboration with the National Sports Development Fund (NSDF), with the Sports Authority of India (SAI) playing a pivotal role.

The MoU signing ceremony for the IndianOil Shakti was held in the presence of Pankaj Jain, Secretary, MoP&NG, Sujata Chaturvedi, Secretary (Sports), S M Vaidya, Chairman, IndianOil and senior Officials from National Sports Development Fund (NSDF), Sports Authority of India (SAI) and IndianOil.

Speaking on the occasion, Pankaj Jain highlighted "IndianOil's engagement with sports extends beyond the IndianOil Shakti Project, positioning itself as a cornerstone in the Petroleum Sector Sports Promotion. This initiative not only champions athletes within the Public Sector Oil & Gas firms but has also seen IndianOil's employees attain glory as medallists and participants in prestigious events like the recent Asian Games. Their dedication to nurturing talent is evident through the support of coaching centres across various sports disciplines, significantly contributing to India's sports infrastructure.”

In her address, Chaturvedi expressed gratitude to IndianOil for the unwavering support towards fostering sports, emphasizing the significant strides yet to be made, particularly in women's sports. She highlighted the growing expectations spurred by recent sporting triumphs and the anticipation for India's bolstered representation in the global sporting arena.

Speaking about IndianOil Shakti project, S M Vaidya, Chairman, IndianOil said “At IndianOil, we believe in the transformative power of sports to inspire, unite, and pave new pathways for youth. Through this initiative, we aim to empower young female athletes, providing them with the resources and support they need to excel both nationally and internationally. This project reflects our CSR vision to contribute meaningfully to the socio-economic development of our nation by supporting budding talent at the grassroots and making India a sporting powerhouse. We take immense pride in fuelling the aspirations of India's future sporting stars and reinforcing our nation's position on the global sports map.”

The athletes will be supported in middle and long-distance running categories including the 800m, 1500m, 3000m steeplechase, and 5000m. This project underscores IndianOil's dedication to fostering sporting excellence and empowering women in sports, reflecting the company's broader vision of social responsibility and national development.

Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, Mumbai

Other Related stories

Startups

Chemical

Petrochemical

Energy

Digitization