Gujarat State Petroleum Corporation Ltd (GSPCL), the state government-owned company, plans to raise Rs 2,000 crore in next two years.
The money will be mainly utilised for funding upcoming projects including exploration of natural gas in the Krishna-Godavari (KG) basin, which it has recently won following NELP-III bidding.
The company also plans to aggressively participate in the forthcoming round of NELP-IV for acquiring more exploration acreage.
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GSPCL, which is also the nodal agency in the field of oil and gas in Gujarat, also may opt for the equity route to raise the money of which, Rs 300 crore, allocated for expenses to be incurred during setting up 246 CNG stations across the state, will be raised through bonds, convertible bonds or through term loans.