The Gujarat State Petroleum Corporation Limited (GSPC) is restructuring its business to improve its credit profile. According to the scheme, GSPC will hive-off its participating interest in the Krishna-Godavari Deen Dayal West (KG-DDW) block and its related assets and liabilities to GSPC Offshore.
The remainder of GSPC’s businesses (including exploration and production blocks other than KG-DDW, gas trading, wind power generation, and investments in subsidiaries and associates) will be amalgamated into GSPC Energy. The scheme is subject to approval by lenders, the Gujarat High Court, other relevant regulators, and is to be completed by March.
GSPC’s debt of nearly Rs 20,000 crore as on December 31, 201…
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