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K-G basin to attract 1 lakh crore investment in coming years

business Updated: Jun 06, 2016 06:24 IST

NEW DELHI: The Krishna-Godavari (K-G) Basin will become the hub of oil and gas reserves in the country and likely attract investment worth Rs 1 lakh crore in the coming years, oil minister Dharmendra Pradhan said on Sunday. “Along with investments from ONGC, GSPC and RIL, from this financial year to the next five to seven financial years, I am visualising new investment of Rs 1 lakh crore in the Krishna-Godavari Basin, creating new employment and setting up of downstream industry,” Pradhan said.

First Published: Jun 06, 2016 06:24 IST