Cairn India, which plans to invest $1.6 billion (around Rs 9,500 crore) over the next three years, is hopeful of securing mandatory clearances for additional exploration and production in its Rajasthan oil and gas fields.
The firm plans to invest this amount in order to increase and sustain production from the fields. As of March 2013, the company had a cash balance of around Rs 5,500 crore.
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