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 Oriflames 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 |