16th December, 2002
Ministry of Commerce & Industry  


ARUN SHOURIE CLEARS FDI WORTH RS. 92 CRORE


Shri Arun Shourie, Minister for Commerce & Industry and Disinvestment, has approved 23 proposals of foreign direct investment (FDI) amounting to Rs.92 crore, on the recommendations of Foreign Investment Promotion Board (FIPB). The major investment proposals pertain to the sectors such as manufacture of pneumatic tyres of rubber, setting up of power plant, software development, consultancy and services. A list of proposals cleared is enclosed.

FIPB MEETING HELD ON 05.12.2002

S.No.

Name & Address of the existing/proposed foreign company

Name & Address of the Indian company, if already incorporated

Activity

Location

Percentage of FDI/NRI/OCB investment

Amount of FDI/NRI/OCB Investment

(Rs. In crore)

1

M/s. A.M. Todd Company

(M/s. Indomint Agari Products Pvt ltd.)

A.M. Todd Company

C/o. Thakker & thakker

A/320, Defence Colony

New Delhi-110 024

Manufacture market and distribute mint oil and value added products, organic fine chemicals and derivatives( deletion of export obligation condition)

Delhi

Amendment in the existing FC approval

No fresh

Inflow is

Involved

2

M/s. Bala Ranjan Samuel &

M/s. Freeda Jeyarohani

Montanus

STR 60,

41515 Green Croich

Germany

Pearlyn Exports Private Limited

(Under Incorporation)

No. 10, Jayammal Street, Teynampet, Chennai

Export of food products, groceries, sea foods, silver/brass utensils, antiques, rice, wheat, readymade garments, textiles and other exportable commodities

Chennai

100%

0.10

3

Pt Adijaya Guna Satwatama

Wisma Millenia

JL. MT Haryono Kav

16. 16, Jakarta

12810, Indonesia

100% WOS

Cash and Carry wholesale trading of agricultural commodities and products, animal feed and supplements, capital equipment and spares of plant and machinery used in the poultry/dairy related industry

Pune, Maharashtra

100%

15.00

4

Mr. Gary Seaton

95, The Inglewood,

Singapore

Mysore Agro Commodities Ltd

# 571/31, 21st Main,

4th T Block, Jayanagar,

Bangalore

Importing and wholesale trading in edible oil

Bangalore

60%

1.20

5

United Motors & Heavy Equipment Co. LLC

P.O. Box 22804, Dubai, UAE

United Motors & Heavy Equipments Private Ltd

C/o. King & Partridge

48, Lavelle Road

Bangalore – 4

Trading activities including importing, marketing and also exporting outside India construction equipment parts/spares

Bangalore

75%

0.375

6

Truphatek Holdings (1993) Ltd, Israel

Lillian Bhonkar, Israel

M/s. TK India Pvt Ltd

346, Industrial Area, Phase-II

Chandigarh-2

Permission for import and wholesale trading of medical devices and highly engineered parts etc.

Chandigarh

Amendment in the existing FC approval

No fresh

Inflow is

Involved

7

Industrialization fund for developing countries(IFU)

Bremerholm – 4

DK-1069, Copenhagen K

Denmark

LM Glassfiber A/S

Rolls Mollevej 1,DK-6640

Lunderskov, Denmark

LM Glassfiber (India) Ltd

310, Raheja Acrade

1/1, Karamangala Industrial Lahout, Bangalore

Manufacture of FRP rotor blades for wind turbine generators

(payment of lumpsum fee in addition to existing royalty)

New Delhi

Amendment in the existing FC approval

No fresh

Inflow is

Involved

8

Converge Media Inc

P.O. Box 146,

Road Town, Tortola

British Virgin Islands

Convergence Media Pvt Ltd

Unit 124,

SDF IV, Seepz,

Andheri(E), Mumbai

Carry on the business of animation

Mumbai

100%

0.01

9

Altera Corporation

101, Innovation Drive,

San Jose

CA 95134, USA

Altera Semiconductors India Private Limited

313, Prestige Centre Point,

Cunningham Road,

Bangalore

Engaged in the activities of providing services regarding all kind of semi-conductor products, including programmable logic devices, software development tools and intellectual property cores for the communication, computer peripherals and industrial markets

Bangalore

Transfer of 10,000 shares of Rs. 10/-

0.01

10

M/s. Motif Inc

15271, South Grimmer

Blnd, Fremont

CA 94539, USA.

M/s. Motif India Infotech Pvt Ltd

IA Wall Street 2

Near Gujarat college

Ahmedabad

Data Communication, support Service

(except equity other than cash)

Ahmedabad

Increase in paid up capital

0.56

11

1) M/s. Citicorp International Finance Corporation, USA

2) Individual NRIs from Canada

M/s. Kumaran Systems Pvt Ltd

Tidel Parl

A Block, 5th Floor

North Wing, Taramani, Chennai

Development of computer software

Chennai

Amendment in the existing approval

( Transfer of equity from foreign investor to NRI investor)

No fresh

Inflow is

Involved

12

Bio Development International Inc

Three Executive Park Drive

Bedford

NH 03110 USA

R.R. Bio Energies Limited

Plot 39, Lane No. 1

Street No. 3

West Marredpally, Secunderabad -26

Setting up of 14 MW installed capacity biomass based IGCC power plant with an exportable output of 12 MW

Bangalore

100%

4.13

13

Nokia Networks OY, Finland

M/s. Nokia India Limited, 4th Floor, Commercial Plaza

Radisson Complex

Natinal Highway No. 8

Mahipalpur, New Delhi

Permission for cash & carry wholesale trading

Not indicated

Amendment in the existing FC approval

No fresh

Inflow is

Involved

14

Multi tech Systems Inc

Minnesota, USA

Multi Tech Computers Pvt Ltd

249-B, Udyog Vihar

Phase IV, Gurgaon,

Permission for wholesale trading

Not indicated

Amendment in the existing FC approval

No fresh

Inflow is

involved

No fresh

Inflow is

Involved

15

M/s. PT. Buana Mega Bimasakti

32nd Floor,

Wisma 46,

Kota BNI JI, Jend Sudiram Kav

1, Jakarta, Indonesia

Universal Lifestyle Products Pvt Ltd

328/1, Safex Logistic Park, Bijwasan, New Delhi

Cash & carry wholesale trading of sports and lifestyle products etc.

Mumbai

Transfer of 10,000 shares

0.01

16

Knight Frank & Rutley

UK

Knight Frank (India) Pvt Ltd

Udyog Bhavan,

Ist Floor, 29, walchand Hirachand Marg,

Ballard Estate

Mumbai

Providing consulting and advisory services in the field of real estate and project development support, real estate maintenance and management, research and maintenance of data base and planning, auctioneering

Not applicable

Increase in foreign equity from 33.96% to 74%

0.96

17

Holderind Investments Ltd

  1. Remy Oliver Street

Port Louis, Mauritius

Holdcem Cements Private Limited

Rajendra Bhavan,

210, Deen Dayal Upadhyaya Marg,

New Delhi

Manufacture of cement in the form of clinker and portable cement etc.

New Delhi

100%

0.01

18

Major (Retd) Brijendra Singh, C/o. Manni Trading Corporation

PB No 76, Doha, Qatan

M/s. Sowar Pvt Limited

LTG Building, Copernicus Marg,

New Delhi

Consultancy & Services

Delhi

Increase in foreign equity from 20.39% to 37.78%

0.037

19

Mr. Matadin Agarwalla, USA

M/s. Matu Newsprint Limited, Suite # 207, 2nd Floor I British Indan Street, Kolkata

Manufacture of Newsprint based on non-conventional raw material

Kolkata

Amendment in the existing approval

No fresh

Inflow is

Involved

20

Leitz Beteiligungs BmbH

Postfach 1229

73443 Oberkochen

Germany

Leitz Tooling Systems India Private Limited

22/A, Third Mian Road

Ist Phase Peenva Industrial Area

Bangalore

Permission for cash and carry whole sale trading of special purpose tooling for the wood working industry

Bangalore

Amendment in the existing FC approval

No fresh

Inflow is

Involved

21

M/s. Bridgestone Corporation

Tokyo 104, Japan

Bridgestone ACC India Ltd, Plot No. 12, Kheda Growth Centre,

Post Sagore

454774, Distt. Dhar

Madhya Pradesh

Manufacture of New pneumatic tyres of rubber

Dhar, Madhya Pradesh

Increase in foreign equity from 90% to 100%

66.6

22

Milacron Marketing Co. Ltd

USA

Ferromatix Milacron India Limited

92, Phase-I

GIDC Vatva,

Ahmedabad-382445

Manufacture of plastic machinery, injection moulding machines, blow moulding machines and extrusion machines.

Not indicated

Share swaping

No fresh

Inflow is

Involved

23

Braintree Synthetic & engineering Ltd

Unit D8, Braintree Industrial Estate,

Braintree Road, South Rusilip

Middix – HA4 DEJ

United Kingdom

ASP Sealing Products Ltd

"Anbros House"

25/31, East Patel Nagar

New Delhi-110 008

Manufacture of EPDM Rubber Profiles/Rubber to metal bonded profiles used as components in the automobiles industry

Gajraula, UP

Conversion of loan into equity

3.17