March 6, 2002
'17'MARAN CLEARS 38 FDI PROPOSALS WORTH Rs.940 CRORE
Shri Murasoli Maran, Union Minister of Commerce & Industry, has cleared 38 foreign direct investment (FDI) proposals involving FDI worth Rs.940 crore. The major investment proposals pertain to sectors such as bio-technology, chemicals & petro-chemicals, communications, consumer items, automobiles, light engineering components, information technology, software development, consultancy and NBFC activities. 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 perusal.
FDI PROPOSALS CLEARED
| S. No | Name & Address of the 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 crores) |
| 1 | India Seed Holdings Ltd 10, Frere Felix, de Velouis Port Louis, Mauritius |
100%subsidiary C/o.V.R. Kaundinya Mahendra Hybrid Seeds Co. Ltd 5-5-685/A, Ghoshamahal, Hyderabad |
developing, production, processing and marketing of hybrid seeds | Mumbai | 100% | 43.20 |
| 2 | NAJETI, CHEMINDES BOIS ACOIN WEST BE COURT 62380 LUMBRES, FRANCE |
Eagle Agro Farms Pvt Ltd Eagle Estate Talegaon - 410 507 Pune, Maharashtra |
Breeding of broiler and selling of various poultry products including commercial chicks, hatching eggs and dressed chicken | Talegaon, Maharashtra | Increase in foreign equity from 44.44% to 50% | 0.50 |
| 3 | Bush Boake Allen Ltd, UK | M/s. Bush Boake Allen (India) Limited 1-5, Seven Well Street St. Thomas Mount Chennai |
Manufacture of vanilla (Flavour), Oils and Oleoresins etc. | Not indicated | Increase in foreign equity from 75.05% to 98% by way of buy-back | No fresh inflow is involved |
| 4 | Ali Teheriyan C/o. M/s. Hakimiye Cartons Mfg. Co. Pvt. Ltd. Jaddeh Aabali, Infront of Khabane Ethhad Building No. 257 Tehran - Iran |
Sole Proprietory ship firm | Operating Iranian food restaurants | Pune, Maharashtra | 100% | 0.47 |
| 5 | M/s. ALLTECH INC, USA 3031, Catnip Hill Pike Nicholasville, Kentucky - 40356, USA |
ALLTECH INC. USA C/o. Kainth & Associates 519, 11th Main, 4th Cross, HAL Second Stage Bangalore |
Manufacture and marketing of products in the field of biotechnology for livestock, poultry, equine, ruminant, dairy, aqua and pet industry | Bangalore | Acquisition of shares from Subscribers to the Memorandum and reduction in the paid up capital | No fresh inflow is involved |
| 6 | M/s. ABBOTT LABORATORIES 100 Abbott Park Road Abbott Park, IL 60064-3500 USA |
M/s. Abbott Laboratories India Pvt Ltd, Jehangir Building 133, M.G. Road, Mumbai - 400 001 |
Manufacture and selling bulk drugs and pharmaceutical products | New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 7 | Kyndal Spirits Ltd Dalmore House 310 Vincent Street, Glassgow G25RG Scotland |
100% WOS C/o Price Waterhouse Sucheta Bhawan (Gate No. 2 II nd Floor) 11-A, Vishnu Digamber Marg, N.Delhi-2 |
Bulk imports and ex-bonded warehouse sales | Mumbai | 100% | 4.70 |
| 8 | Mr. Subramanium V. Iyer, P.O. Box. 13897 Dubai, UAE |
M/s. Mahmayi Office Furniture LIC 601 Residency 3,4,5 Sardar Patel Road Chennai |
Import and trading in office furniture, home furniture and electrical lighting | Chennai | Increase in foreign equity from 50% to 100% | 0.45 |
| 9 | Cooperatieve Centrale Raiffeisen Boerenleebank B.A Netherlands |
Rabo India Finance Limited 1-A, Janpath, New Delhi |
NBFC activities | Not indicated | Increase in foreign equity from 75% to 100% | 151.56 |
| 10 | View Asset Management Ltd, Mauritius Hewitt Associates LLC, Mauritius |
India Life Asset Management Co.
Ltd 214, Dalamal Towers Nariman Point, Mumbai |
NBFC activities | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved |
| 11 | M/s. Screiber International Inc Creig Newman, Schreiber International Inc PO Box 19010 Green Bay WI 54307-9010 Grie Food International 401 Seventh Avenue PO Box 648, Erie Illinois 61250 USA |
Dynamic Dairy Industries Conwood House Yashodham Goregaon (E) Mumbai -400 063 |
Manufacture of sodium caseinate and calcium caseinate | Baramati, Maharashtra | Increase in foreign equity from 10.36% to 21.36% | 5.83 |
| 12 | Fonterra Cooperative Group Ltd and/or its group company, New Zealand | Britannia Industries Ltd, Executive Office Britannia Gardens, Airport Road Vimanapura, Bangalore |
Undertake activities relating to dairy products and sale of milk products etc. | Bangalore | Amendment in the existing FC approval | No fresh inflow is involved |
| 13 | General Motor Corporation, USA (Fin.) Adam Opel AG( Tech.) |
General Motors India Private Limited Ground Floor, VIPPS Centre 2 LSE, Masjid Moth Greater Kailash 2 New Delhi |
Manufacture, mktg of cars and
commercial vehicles and other incidental activities like after sale support and supply of
spare parts to the customers of passenger cards, utility vehicles/ commercial vehicles |
Halol, Gujarat | Increase in Authorised Capital Equity: Rs. 400 Cr Preference capital: Rs. 200 cr |
600.00 |
| 14 | Volvo Truck Corporation S-405 08 Goteborg, Sweden |
Volvo India Pvt. Ltd. C/o. Price Waterhouse & Co Sucheta Bhavan, 2nd Floor, 11-A, Vishu Digambar Marg, New Delhi |
Mfr. and Mktg. Vehicles, trucks,
busses, cards, construction equipment, engines for marine and industrial and agricultural
appns and business in management consulting and advisory services of all types etc. |
New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 15 | Hawe Holding HmbH, Streitfeldstr 25 D-81673, Munchen Germany |
Hawe Hydraulics Private Limited Flat No. 18, Ist Floor 239, SNS Chambers Sankey Road, Sadashivnaga Bangalore |
Manufacture, design, undertaking quality management, servicing and trading of products in the field of high quality oil hydraulics components & Systems | Bangalore | Transfer of 1000 shares from subscribers to the Memorandum | 0.01 |
| 16 | Renaissance Herbs, Inc 9588, Topanga Canyon, BLVD Chatsworth CA 91311, USA |
Dhanvantari Botanicals Pvt ltd # 430/A, 10th Cross, 21st Main, J.P. Nagar 2nd Phase, Bangalore |
Manufacture and dealings in botanical goods or its extracts/derivatives from all types of herbal and fruits etc. | Hosur, Karnataka | Conversion of Rs. 10 million into equity | 1.00 |
| 17 | Reed Elsevier Overseas BV, The Netherlands | Redd Elsevir India Pvt. Ltd. 14th Floor, Vijaya Bldg, 17, Barakhamba Road, New Delhi - 1 |
Production of trade and industry directory, advisory and consultancy expertise on various aspects of publishing, electronic delivery and information etc, | New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 18 | Euro RSCG International SA (Havas Advertising International SA) 84 Rue De Villiers 92693 Levallois-Perret Cedex |
Euro RSCG Advertising Pvt. Ltd. C/o. Arthur Anderson 19th Floor, Express Tower Nariman Point Mumbai |
providing entire range of communication services including advertising, media planning/buying etc. | Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 19 | MFS Globenet Inc 9 East Loockerman Street, Dover, Delaware 19901 USA ( SIA No. FC.II:25/2000) |
MCI Worldcom India Pvt. Ltd. Radisson Commercial Plaza A-wing, 2nd Floor National Highway 8 New Delhi 110 037 |
providing wide range of data networking products, solutions and support services | New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 20 | Hibbittkarlsson & Sorenson
Inc 1080, Main Street, Pawtucket, RI 02860, USA |
Abacus Engineering Analysis
Solutions Pvt. Ltd 3M Prince Arcade 22A Cathedral Road Chennai |
Extension of Test marketing of Software products manufactured by the company in India | Chennai | Amendment in the existing FC approval | No fresh inflow is involved |
| 21 | Xius Technologies Ltd 3rd Floor, Les Cascades Edith Cavell Street, Port Louis, Mauritius |
Xius India Ltd. ZIP Villa, Recondo Estate S.K. Ahire Marg, Worli, Mumbai |
Development of computer software and computer consultancy and software supply services | Mumbai | Equity swap | No fresh inflow is involved |
| 22 | M/s Venenburg Facilities BV The Netherlands |
M/s. Vanenburg IT Park Pvt. Ltd. Plot # 17, Software Units Layout Madhapur, Cyberabad Hyderabad |
Software development under ST P Scheme | Hyderabad | Aditional activities | 10.00 |
| 23 | M/s. Solutions Inc 805, Third Avenue, 11th Floor New York NY 10022, USA |
M/s. Solutions Inforstystems Pvt.
Ltd. A-26/1, Mohan Co-op Indl. Estate, New Delhi |
Computer Software Development | New Delhi | 100% | 0.43 |
| 24 | Camdon Atlantic Ltd, Bond Pearce, Town Quay House No. 7, Town Quay, Southamton-S014-2PT, UK & M. Muni Sekar & Family #3025, Canoas Creek Ct, San Jose, CA 95136 |
Dheeru power & Projects (P)
Ltd Flat No. 110, Amrutha Ville Rajbhavan Road, Hyderabad |
setting up of biomass based power project | Nittur Village, Tumkur Distt. Karnataka |
74% | 4.80 |
| 25 | Shiv Calor Asia BV Rijnkade 1, 3511 LC Utrecht PO Box No 2065, 3500 GB Utrecht The Netherlands |
M/s. SHV Energy India Pvt. Ltd. Super Gas House, 4th Floor, Sde Serene Chambers, 8-2-334 Road No. 7, Banjara Hills, Hyderabad |
import, bottling and distribution of liquified gas | Haldia, West Bengal | 100% | 0.45 |
| 26 | Waterford Instutute Inc 1590 East 9400 South Sandy, Utah 84093 USA |
Waterford Institute India 5B Pasayadan TMC Road Panchpakhdadi Thane(W) Mr. Nitin Phadnis 603 Santoor, Lok Puram, Off. Pokharan Road No. 2 Thane (w) Mr. Mohammad Aslam 6B Holy Eden Woods Off Pokharan Road No. 2 Thane |
Undertake scientific, literacy and educational activities and projects for development of education software for similar institutes | Thane | Transfer of 99.9% shares | 0.5 |
| 27 | Motorola Singapore Pte Ltd # 35-00 Shaw Towers 100 Beach Road, Singapore |
M/s. Motorola India Ltd 415/2, Mehrauli Gurgaon Road Sector 14, Gurgaon Haryana |
Manufacturing of pagers and designing and development of systems and application software | Delhi | Issue of shares to foreign collaborator on amalgamation of two companies | No fresh inflow is involved |
| 28 | 1) Mr. Shirish G. Patel, NRI(USA) 2) M/s. Subway International BV(Doctor’s Associates Inc, USA) |
M/s. Parthiv Kastia, 34, New Mnicipal
Karamachari Nagar, Sola Road Ahmedabad-380061 |
Establishment of subway franchise restaurant | Ahmedabad | Amendment in the existing approval | No fresh inflow is involved |
| 29 | Sunway Construction Berhad Level 8, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia |
Sunway Construction India Private
Limited Mrurdeshwar Bhavan, 604/B, Gokul Road, Hubli 580030 Karnataka ( SIA No. 03/2002-FC.I) |
construction and maintenance of buildings, roads and carry on business as contractors and consultants | Hubli, Karnataka | 100% | 0.47 |
| 30 | Grundfos Holding AG Baarestrasse 59 CH 6300 ZUG- Switzerland |
Grundfos Pumps India Pvt. Ltd. Ground Floor, Flat A 61/62, Chamiers Apt Chamiers Road Chennai |
Extension of test marketing for the manufacture of high quality pumps, pumping systems and components thereof | Chennai | Amendment in the existing FC approval | No fresh inflow is involved |
| 31 | Timex Watches BV Koningslaan 34 1075, AD Amsterdam The Netherlands |
Timex Watches Ltd 701, Ansal Bhawan 16, K.G. Marg, New Delhi |
manufacture of watches | Noida, G.B. Nagar, UP | Increase in foreign equity from 79.47% to 83.54% | 20.00 |
| 32 | Matushita Electronic Industrial Co. Ltd Oska Central 288 Osaka 530 91 Japan |
Matsushita Air-Conditioning India
Pvt Ltd A-11 & 12, SIPCOT Industrial park, Irungattukottal Sriperumbudhur Taluk Kancheepuram Distt Tamil Nadu |
Manufacture of air conditioners | Kancheepuram Distt, Tamil Nadu | Increase in foreign equity from 70% to 90% | 72.50 |
| 33 | M/s. Alghaniam (Mauritius) Ltd, Louis Leconte Street Curepipe, Mauritius |
Rockwool India Ltd 502, Lingapur House Himayath Nagar Hyderabad |
manufacture of superior quality thermal insulation wool, namely rockwool | Zaheerabad | Increase in foreign equity from 74% to 77.7% | 8.13 |
| 34 | WELLA AG AKTENGESELLSEHAFT BERLINER ALLEE 65 GERMANY |
M/s. European Haiircosmetics
(India) Pvt Ltd Filmcentre Bldg, Ist Floor, 68 Tardeo Road Mumbai |
imparting specialised training in the art of hair styling and to develop the trade in hair care products in India | Mumbai | Increase in foreign equity from 74% to 100% | 5.91 |
| 35 | Jones Lang Lasalle Internatinal
Inc (through M/s. Lasalle Partners (Mauritius) Pvt. Ltd P.O. Box 1130 12, Remi Ollier Street, Port Louis, Mauritius |
Lasalle Partners (India) Pvt Ltd Level 6 Merchantile House 15, KG Marg New Delhi |
real estate consultancy | New Delhi | Conversion of loan into equity | 4.74 |
| 36 | Dresdner Kleinwort Capital Ventures Management
Ltd Riverbank Hose 2, Swan Lane, London, UK |
Dresdner Kleinwort Benson
Advisory Services (India) Private Limited 1305, 13th Upper Floor Raheja Towers, East Wing, 26-27, M.G. Road Bangalore |
providing consultancy and
advisory services on all aspects of business, commercial and industrial activities
especially financial, investment tech etc.
|
Bangalore | Transfer of 10 equity shares of Rs. 10/- | No fresh inflow is involved |
| 37 | Daido Metal Co Ltd 2, Sanage CHO, Kitaku Nagoya, Japan |
BBL Daido Private Ltd 861, Anna Salai Chennai |
manufacture of steel back polymer dry bearings, bushes and washers | Chengleput, Tamil Nadu | 40% | 4.46 |
| 38 | Packsys Global Ltd Joweid Zentrum 1 CH -8630 Ruti Switzerland |
Technology Service Centre Pvt Ltd Unit No. 2, Udyog Kshetra Link Road Mulund (West) Mumbai |
providing tech/non-tech services to customers, design and drawing office assistance to group companies | Mumbai | Transfer of shares amounting to Rs. 100/- | No fresh inflow is involved |