GSPC to pump in Rs 4,000 cr for KG basin oil, gas
Gujarat State Petroleum Corporation (GSPC), fully owned by the Gujarat government, is planning to spend Rs 4,000 crore over the next three to four years to produce oil and gas from the block it discovered in the Krishna-Godavari (K-G) basin off the Andhra Pradesh coast. The company will raise the money through a combination of loans from banks, a possible public offer and through internal accruals.