August 07, 2001

'17'

MARAN CLEARS FDI PROPOSALS WORTH Rs. 980 CRORE

    Shri Murasoli Maran, Union Minister of Commerce & Industry, has cleared 88 Foreign Direct Investment (FDI) proposals involving FDI worth Rs. 980.00 Crore. The major investment proposals pertain to software development & computer hardware, engineering components, heavy machinery, cement, paper, chemicals & petro-chemicals, mineral exploration, petroleum & natural gas, telecommunication & satellite system, tourism, information technology and ISP. The list of proposals cleared by Shri Maran is given below. Earlier, the Foreign Investment Promotion Board had submitted its recommendations for the Minister's clearance.

FDI PROPOSALS CLEARED

S.No.

Name of the Applicant

Activity

Percentage of FDI/NRI equity FDI/NRI Amount (Rs.Crores)

1

M/s. Chambal Agri Tech Ltd

To undertake mass multiplication under control environment of high yielding plantlets resulting in miniature seed potatoes

Amendment in the existing FC approval

No fresh inflow is involved

2

M/s. Onesh Flora Pvt Ltd

Horticulture products

Increase in foreign equity from 70% to 100%

0.009

3

M/s. Sayag Nurseries

Growing vegetables in green houses for the export market

24%

6.54

4

M/s. Transatlantic Packaging Pvt. Ltd.

Manufacture of plastic articles for food packaging

99.86%

0.74

5

M/s. Guala India (P) Ltd

Manufacture of non-refillable automatic one way shutter valve device

Amendment in the existing FC approval

No fresh inflow is involved

6

M/s. Stollberg India Pvt Ltd

Manufacture of industrial organic and inorganic chemicals

Amendment in the existing FC approval

No fresh inflow is involved

7

M/s. Venkatesh Coke & Power Pvt Ltd

Processing of coking coal and coversion into metallurgical coke

Amendment in the existing FC approval

No fresh inflow is involved

8

M/s. Bunge Agribusiness Singapore Pte Ltd, Singapore

Import and wholesale of palmolein crude palm oil and other palm oil derivatives as also soyabean oil, sunflower oil, rapeseed oil and edible oils

100%

0.25

9

M/s. Life style International (P) Ltd

Induction of equity in an existing venture.

Amendment in the existing approval

No fresh inflow is involved

10

M/s. Rosendahl Maschinen GmbH, Austria

After sale service and maintenance of equipment for manufacturing of communication cable, automotive wires & low voltage power cables etc.

100%

0.05

11

M/s. Davox Corporation, USA

After sales consultancy and solutions and software promotion

100%

18.80 over a period of 5 years

12

M/s. Scotia Finance Pvt Ltd

Providing comprehensive range of financial services including leasing, merchant banking, investment banking

Increase in foreign equity from 75% to 100%

7.46

13

M/s. A.P. Moller Group, Denmark

Setting up of multi-purpose Port at Pipavav

Amendment in the existing FC approval

No fresh inflow is involved

14

Mr. Arjun Parmanand Samtani

Whole sale trading in Chemicals and Petro-chemicals & allied products

1.82%

0.10

15

M/s. Thaqdees Hospitals Ltd

Establishment of hospital, nursing college institutions for rehabilitation of dumb and deaf and blind.

Increase in foreign equity from 2.02% to 40% but decrease in paid up capital

0.002

16

M/s. India Nippon Electricals Ltd

Manufacture of magnetic, ignition coils, fly wheel generators, contact breaker assemblies

Increase in foreign equity as a result of buy back of shares

No fresh inflow is involved

17

M/s. JNS Instruments Ltd

Manufacture of instrument cluster for 2 & 4 wheelers and also proposing to manufacture fuel tank unit for 4 wheelers

39%

 

 

3.63

18

M/s. Stanadyne Automotive Corp.,

Design, manufacture and marketing of highly engineered precision engine components

100%

9.40

19

M/s. Climax Design Services Pvt Ltd

Manufacture of machinery and equipment for coal processing industry

99.99%

4.67

20

M/s. Vertigo

Manufacture/purchase of advertising hardware

100%

20.00

21

M/s. HFCL – Nine Broadcasting India Ltd

Development of television software and other related activities

49%

5.90

22

M/s. Valueline Technologies Pvt. Ltd.

Web designing

100%

0.12

23

M/s. R.M. Software India Pvt Ltd

Consultancy as well as software development and technical services in geographic information systems etc.

Amendment in the existing FC approval

No fresh inflow is involved

24

M/s. Altair Engineering India Pvt Ltd

Software and consultancy

Increase in foreign equity from 70% to 100%

1.04

25

M/s. L&T Trade Com Pvt Ltd

Setting up of full service financial portal

Amendment in the existing FC approval

No fresh inflow is involved

26

M/s. Barconet Pvt Ltd

Providing IT related products and services

100%

1.00

27

M/s. Seghal Software Pvt Ltd

Software development

Amendment in the existing approval

No fresh inflow is involved

 

28

M/s. Sobha Renaissance Information Technology Pvt Ltd

Software development

Amendment in the existing approval

No fresh inflow is involved

29

M/s. Microcon Holdings Pvt Ltd

Software development and marketing of IT solutions

Equity swap

Singapore $ 3.5 million( Rs. 9.45 crore)

30

M/s. Veritas Software Global Corporation, USA

Software development

100%

23.50 over a period of 5 years

31

M/s. Tality India Services Pvt Ltd

Hardware and software development

Transfer of 2 equity shares

No fresh inflow is involved

32

M/s. DSF Internet Services Pvt Ltd

Software development and providing IT solutions, relating to internet and intranets

70%

8.22

33

M/s. Perennial Solutions Pvt Ltd

Development of software, business in e-commerce applications, web solutions etc.

0.96%

0.02

34

M/s. DigitalThink. Inc., San Francisco

Off-shore e-learning software development for DT, E-learning R&D activities etc.

100%

2.35

35

M/s. Bharat Shell Ltd. .

Manufacture of lubricating oils and greases including brake fluid and specialities

Amendment in the existing FC approval

No fresh inflow is involved

36

M/s. GVK Industries Ltd

Set up and operate mixed fuel power plant

Amendment in the existing FC approval

No fresh inflow is involved

37

M/s. M.S.V. International Consultants Ltd

Consultancy business

61%

0.30

38

M/s. Itochu Corporation, Japan ( I&D Logistics Pvt Ltd

Handling of inland transportation of complete built units of Honda Siel Cars

Increase in equity from 74% to 100%

1.82

 

39

M/s. Srinivas Cellcom Ltd (M/s. Aircel Ltd )

Cellular Mobile Telephone Services

Amendment in the existing FC approval

No fresh inflow is involved

40

M/s. HexaCom India Ltd

Cellular Mobile Telephone Services

Amendment in the existing FC approval

No fresh inflow is involved

41

M/s. Siemens Public Communication Networks Ltd (SPCNL)

Manufacture of telecommunication equipments and system

Amendment in the existing FC approval

No fresh inflow is involved

42

M/s. Kidde International Ltd. UK

Manufacture, fabricate, alter, assemble and deal in fire fighting equipments and fire protection systems

100%

16.00

43

M/s. Timex Watches Ltd

Manufacture of Quartz Analogue Watches

Increase in foreign equity from 74.02% to 79.47%

1.70

44

M/s. Magnetic Meter Systems (I) Ltd

Manufacture of Resin bonded permanent magnets

Amendment in the existing FC approval

No fresh inflow is involved

45

M/s. ASB International Pvt Ltd

Container Design, Mould design, Moulds, Injection etc.

Issue of preference shares

16.00

46

M/s. Devarshi Cement Ltd

Manufacture of Cement

Increase in equity from 22.22% to 27.78%

14.00

47

M/s. Wimco Boards Ltd

Manufacture of paper bonds

Issue of redeemable cumulative preference shares

47.00

48

M/s. Salzer Electronics Ltd

Manufacture and marketing of CAM operated rotary switches and other related switch gear products

1.88%

0.03

49

M/s. Incowax Pvt Ltd

Manufacture of liquid printing inks

2.01%

0.41

50

M/s. Alfa Laval International AB, Sweden

Manufacture of Industrial machinery

Increase in foreign equity from 51% to 76%

4.54

51

M/s. Prime International Pvt Ltd

Rose, flowering plants etc.

Increase in foreign equity from 81.29% to 90.82%

11.20

52

M/s. Schenectady (India) Holdings Ltd

Downstream investment in the field of chemicals and petro-chemicals

Acquisition of equity of HCL

26.32

53

. M/s. True Pack Pvt Ltd

Manufacture of plastic films, wood, polymers of all kinds etc.

Increase in foreign equity from 80% to 100%

0.48

54

M/s. Petrochemical Commercial Co., Iran

Wholesale Trading in chemicals and petro-chemicals

100%

0.05

55

M/s. AIMS Management Consultants (P) Ltd

Management consultants providing executive search and research advisory services

Acquisition of 2002 equity shares

0.02

56

M/s. Stracon (India) Ltd

Distribution of settop boxes to achieve critical mass and revenue through advertising income and infrastructure for digital broadcasting

Equity swap

US $ 5,00,000(Rs. 2.35)

57

M/s. International Medical Devices Pvt Ltd

Manufacture of Intra Ocular Lenses and eye care solutions

Amendment in the existing approval

No fresh inflow is involved

58

M/s. Gabbi Foods Ltd

Steam sterilized peppers and processed garbled peppers

40.08%

8.23

 

59

M/s. Brompton Investments Ltd

Operates baggass co-generation plants and manufacture of sugar

Amendment in the existing approval

No fresh inflow is involved

60

M/s. Corob SPA, Italy

Manufacture of machinery for the paint industry

Downstream investment by way of acquisition of 51% equity

0.92

61

M/s. Otto India Ltd

Construction of coke oven and by-products plants and other fuel processing and chemicals plants

Increase in foreign equity from 74% to 90%

5.00

62

M/s. Webdunia.Com Pvt Ltd

Design, develop and deploy internet website and portlals, E-mail, E-Commerce and Internet related services

Re-structuring of foreign equity

0.012

63

M/s. Regington India Ltd

Distribution and servicing of computer and computer peripherals and export of software

 

6.5%

2.12

64

M/s. SFEI Electronics Shielding India Ltd

Manufacture of Electro-magnetic interference shielding products

Increase in foreign equity from 67% to 83.55% and decrease in the paid up capital

(-) 5.90

65

M/s. Bangalore Labs Pvt Ltd

Software development and providing management solutions.

100%

12.62

66

M/s. Deloitte Consulting India Pvt Ltd

STP unit providing state of the art software and internet technology solutions

Transfer of two equity shares

No fresh inflow is involved

67

M/s. Friendly Advanced Software Technology (I) Pvt Ltd

Computer Software development

100%

0.01

68

M/s. Fidelity International Ltd

Computer Software Development

100%

0.01

69

M/s. ACC Rio Tinto Explorations Ltd

Exploration of minerals, including, but not limited to gold, silver, diamonds, bauxite, copper, lead and zinc

Increase in foreign equity from 62.5% to 75%

10.00

70

M/s. GDF International

Developing, importation and transportation projects of liquid fuel natural gas

Restructuring of equity

US $ 38 million (Rs. 178.60)

71

M/s. Agrani Satellite Services Ltd

Own and operate satellite communication systems

74%

354.31

72

M/s. Bharti Televentures Ltd

Promotion of activities relating to the telecom sector

Induction of new foreign collaborator and increase in paid up capital

29.40

73

M/s. Tele Competence India Pvt Ltd

Provide training and consultancy services in the telecommunication sector

Amendment in the existing FC approval

No fresh inflow is involved

74

M/s. Bharti Telecom Ltd

Manufacturing and marketing of Telecommunication equipment

Induction of new foreign collaborator and increase in paid up capital

7.35

75

M/s. Standard Chartered Bank, UK

Providing information on financial products and capital markets through a web-site

100%

14.00

76

M/s. Sakon LLC, USA

Providing networking and wireless systems integration services

74%

49.82

 

77

M/s. SynfoSyn Business Solutions Ltd

Providing internet financial hub to facilitate internet stock trading

Transfer of 50,000 equity shares

0.11

78

M/s. Wilhelm Textiles India Pvt Ltd

Manufacture of coated and laminated industrial fabrics such as fusible linings and interlinings

Increase in foreign equity from 51% to 75%

1.46

79

M/s. Dextrous Faber Pvt Ltd

Manufacture of wind-cheaters wind-jackets etc.

Amendment in the existing approval

No fresh inflow is involved

80

M/s. Kumarakom Lake Resort Pvt Ltd

Establishment of Heritage tourist resort

Increase in foreign equity from 56.46% to 70%

7.00

81

M/s. Golden Crest Hotels Pvt Ltd

Setting up of a five star hotel

55.7%

14.29

82

M/s. Alliance Hotels

Hotel business

99.67%

1.50

83

. M/s. Oriflame India Pvt Ltd

Manufacture or to get manufactured from other independent units and market Oriflame’s range of products

Increase in foreign equity from 85% to 100%

2.79

84

M/s. Noble & Hewitt (India) Pvt Ltd

Consultancy in Human Resources compensation and employees benefit services to Indian corporate sector

Increase in paid up capital

10.50

85

M/s. Swatch Group India (P) Ltd

Undertake test marketing of for a period of 2-3 years and simultaneously set up manufacturing/assembly operations for domestic market and export to other countries

Amendment in the existing FC approval

No fresh inflow is involved

86

M/s. Meso Metal Ware Pvt Ltd

Manufacture of plastic films wood, polymers of all kinds etc.

Increase in foreign equity from 80% to 100%

0.12

87

M/s. Thermo Gamma – Metrics India Pvt Ltd

Manufacture and provide world class technologies from Measurement & Control sector of Thermo Electron to Indian core sector and infrastructure industries

100%

0.60

88

M/s. Metroof India Pvt Ltd

Roll forming of metal and manufacture of fabricated structural products

100%

3.50