24th December, 2002
Ministry of Commerce & Industry  


ARUN SHOURIE CLEARS FDI WORTH Rs.46 CRORE


Shri Arun Shourie, Minister for Disinvestment and Commerce & Industry, has approved 22 proposals of foreign direct investment (FDI) amounting to Rs.46 crore, on the recommendations of Foreign Investment Promotion Board (FIPB). The major investment proposals pertain to the sectors such as software development, exploration & development of coal bed methane, chemicals & petro-chemicals, wholesale trading of palmolein, engineering and electrical components. A list of proposals cleared is enclosed.

FIPB MEETING HELD ON 12.12.2002

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

Felda Palm Industries SDN BHD, 5th Floor, Balai, Felda, Jalan Gurney Saturday 54000 Kualalampur, Malaysia

IVP Ltd.

Sethna House, 2nd Floor

6, allana Road, Colaba

Mumbai-1

Importing, trading, marketing and selling palm oils its fractions and products

Mumbai

30%

0.45

2

M/s. Tokai Kogyo Co. Ltd

4-1, Nagane CHO, OHBU

City, AICHI, PREF, 474

Japan

Precision pipes and profiles company

4561 Deputy Ganj

Sadar Bazar

Delhi

Manufacture molding windshields, molding back window, moldings etc.

New Delhi

Induction of 2.5% foreign equity

1.28

3

Yet to be identified

M/s. Divi’s Laboratories Limited

Divi tower, 7-1-77/E/1/303, Street Dharam Karan Road

Ameerpet, Hyderabad

Manufacture of Drugs, medicines and allied products & chemical products

Hyderabad

Increase in foreign equity from 1.93% to 28.40%

3.455

4

M/s FELCRA Berhad,

Wisma FELCERA, Lot PT 4780, Jalan Rejang, Setapak Jaya, Peti Surat 12254, 50772 Kuala Lumpur, Malaysia.

M/s FELCRA Commodities (I) Pvt. Ltd,

97,Amar Chember Kazi Syed Street, Masjid Bunder, Mumbai-400003.

Bulk import of RDB palm-olein & wholesale trading/bulk sales to industrial/institutional customers and wholesale distributors only.

Mumbai

75%

3.60

5

Ropar Industries Inc

160 Ben Burton Road

Boga Georgia 30622, Georgia

Roper Industries, Inc

C/o. Arthur & Andersen

Capital Court, 2nd Floor

LSC Phase III, Munirka

Olof Palme Marg, New Delhi

Import, stock and sell speciality industrial controls, fluid handling and analytical instrumentation products of Roper Group on a cash and carry wholesale

basis

Delhi

Amendment in the existing FC approval

No fresh

Inflow is

Involved

6

Commercial Universe Pte Ltd

100, Jalan Sultan

#02-24, Sultan Plaza

Singapore 199001

Century wells Roofing India Private Limited

No. 5, Gajapathy Road

Kilpauk

Chennai – 600 010

Manufacture of all kins of sheets, steel roofing steel structures used for construction of different types building structures

Not indicated

100%

1.00

7

LG Life Sceinces, Ltd

LG Twin Towers

20, Yoido-dong

Youngdungpo-gu,

Seoul, Korea

LG Life Sciences India Private Limited

LG House

AB-3, Safdarjung Enclave

New Delhi

Importing, marketing, distribution, selling, exporting and/or manufacture or formulation of diverse pharmaceutical and life sciences products and advanced chemical synthetic products including bio-pharmaceutical and bio-logical products and diagnostic kits.

Not indicated

100%

0.01

8

MJF Holdings Ltd,

Sri Lanka

Stanes MJF Teas Ltd

Sea Gardens,

3A & B, Kamaraj Road

Post Box No. 3717

Coimbatore – 641 018

Deletion of spl condition reg. blending activities, (atleast 50% Indian tea would be used)

Mettupalayam. Tamil Nadu

Amendment in the existing FC approval

No fresh

Inflow is

Involved

9

M/s. A.A.A. Beteiligungs-Invest AG

FN 162939 t, Mariahilfer Strabe 19-21,

1060 Wien Austria

e Office Planet India Pvt Ltd

41/A, Dr. E. Moses Road, Worli,

Mumbai- 400 018

Web-enabled distributor of quality office products

Mumbai

Increase in foreign equity from 23.39% to 24.42%

0.02

10

Yamaha Motor Co. Ltd

2500 shingai Iwata,

Shizuok 438 – 8501

Japan

Yamaha Motor India Pvt Ltd

19/6, Mathura Road,

Faridabad – 121 006

Manufacture of motor cycle

Surajpur, UP

Amendment in the existing FC approval (Permission for extension of period of redemption of non-cumulative preference shares)

No fresh

Inflow is

Involved

11

Hoerbiger Kt Asia Holding Pte Ltd

77 Joo Koon Circle

Singapore-629097

Hoerbiger KT Exports India Pvt Ltd

C/o. Hoerbiger India Pvt Ltd

Opp Aga Khan Palace

Pune-Nagar Road

Pune

Manufacture and supply of valves for reciprocating compressors and screw compressor controlled components

Pune

100%

0.50

12

M/s. eSys Distribution Singapore Pte Ltd

40, Khaki, Bukit Place

Near Iunos Tech Park

Singapore

M/s. eSys Distribution Limited

201, Manjusha Building, 57, Nehru Place, New Delhi

Import/after sales service, sale service support & warranty of PC systems & software development.

Delhi

Increase in foreign equity fro 49% to 95%

9.00

13

Infolead Inc

4633 Ironsides,

suite 240, Santa Clara,

California 95054 USA

Abhijit Infolead (India) Pvt Ltd

119, Mahatma Gandhinagar,

Station Road

Aurangabad-431 005

Software development

Aurangabad

Increase in foreign equity from 66.61% to 99.92%

0.016

14

Delcam Plc

Small Health Business Park

Birmingham, B10 0HJ, UK

100% WOS

Distribution and sale of computer softwares and related hardware/machinery and other related activities

Pune

100%

0.26

15

T C India Limited( To be read as 7C India Limited)

St. Alphage Garden,

Fore Street, London

England EC2Y 5DS

Seven C Customer Services India Private Limited

201, Tej Mahan Apartment

J.B Nagar,

Andheri (E), Mumbai

IT enabled services(except call centre activities)

Mumbai

Increase in foreign equity from 99.912% to 100%

0.01

16

Ms. Taranjeet Arora, USA

M/s. MS Softact (I) Pvt Ltd

Om Bhawan, Nai Sarak, Gwalior

Software consultancy & development of internet based tools for effective communication/supply chain management

Gwalior, MP

76%

0.0233

17

Covanta Energy India (CBN) Ltd 3rd Floor, Cerne House,

La Chausee, Port Louis

Mauritius

M/s. CBM Investments Ltd, Jersey

Great Eastern energy Corporation Ltd

210, Okhla Industrial Estate, Phase III

New Delhi -110 020

Exploration and development of coal bed methane

Not indicated

Issue of fresh shares of a new collaborator

(Upto a maximum of 50%)

20.00

18

Mr. Ranjit Singh

No. 9 Devonshire Drive, West Bromich, West Midlands,

B714AA, UK

Mrs. Anjana Pasi,

No. 66, Delves Road

West Midlands,

WS13JS, UK

M/s. First Steps Babaywear Pvt ltd

No. 13, 104/1,

Singasandra, Hosur Road, Bangalore

Manufacture of knitted Readymade garments, woven ready made garments

Bangalore

Increase in paid up capital

0.88

19

Asahi Glass Co Ltd

1-12-1, Yurakucho,

Chiyoda-ku,

Tokyo 100-8405, Japan

Float Glass India Ltd

Plot No. T-7

MIDC Industrial Area

Taloja-410208

Raigad Distt.

Maharashtra

Manufacture of float glass

Not indicated

Amendment in the existing FC approval (Extension of Tech. Collaboration Agreement)

No fresh

Inflow is

Involved

20

Moog Singapore Pte Ltd

14 science park Drive

#04-02A,

The Maxwell

Singapore science Park,

Singapore

100% subsidiary

C/o. No. 2,100

Feet Ring Road,

BTM Layout,

Bangalore

Marketing of products & application engineering support to markets in India for aerospace and defence sectors

Bangalore

100%

1.75

21

Newage International Ltd

PO Box 17, Barnack Road

Stamford-Lincolnshire-

P9 2NB, England, UK

Newage Electrical India Limited

C-33, MIDC, Ahmednagar – 414 111

Crompton Greates Ltd

C/o M/s. Cummins India Limited

Kothrud

Pune – 411 038

Manufacture of electric motors, generators and control systems

Not indicated

Increase in foreign equity from 38% to 51%

3.22

22

AVK SEG Holding Beteiligungs-Gesellschaft mbH

Krefelder Weg 47

49706 Kempen, Germany

P.O. Box 10 07 55, 47884 Kempen, Germany

AVG-SEG (India) Power Limited,

222, Okhla Industrial Estate, New Delhi

Buy, sell, import, export deal in and use all kinds of power generation plants and equipments and to provide technical, sales and other services in respect of such products

New Delhi

34%

0.80