4100 Crore Rs Is Too Be Invested In KG Basin by GSPC

By the end of 2011 Gujarat State Petroleum is ready to invest an amount of Rs 4,100 crore at kG basin gas field. They were also planning to raise an IPO for the funds they were looking for the investment. After this the company may get weak up to some level.

The news is also that the Gujarat government is in no mood to sell the stock to an foreign partner, as it's discussed earlier. The state government have an large amount of stock in GSPC. Gujarat minister Narendra Modi were dening this all. He said “We are financially strong and have no need to go to the market”.
GSPC is still waiting for the government approvals for the development plans for KG-8 gas field. According to the development plan submitted to the regulator they were telling that by this they can produce more gas by this.

If this is done then there is some some resolution can be given to the government in the field of oil.