Cairn India, a subsidiary of NRI metals-to-mining tycoon Anil Agarwal, will invest Rs 30,000 crore in the next three years to pump up volumes by 100,000 barrels per day of oil and gas from its Rajasthan fields.
Cairn will invest the money in three years and the company`s merger will hopefully be completed by March next year, Agarwal said on the sidelines of Petrotech 2016. "Out of the $50 barrels per day of price, the government gets $43 (in taxes, royalty, cess and profit petroleum) and the company gets $7. There cannot be any better Make in India," he added. Pointing out that much of India is left to be explored for oil, gas and other minerals, he said there is enough resources below the ground that can be produced.
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