3rd May, 2002
Ministry of Industry
 


MARAN CLEARS FDI PROPOSALS WORTH Rs. 580 CRORE


Shri Murasoli Maran, Union Minister of Commerce & Industry, has cleared 37 Foreign Direct Investment (FDI) proposals involving FDI worth Rs. 580 Crore. The major investment proposals pertain to sectors such as chemicals & petro-chemicals, NBFC activities, automobiles, bottling & and sale of LPG, paints, hotels & tourism, textiles, ports and software development. 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 & 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

Samsonite Corporation,

11200 East Forty Fifth Avenue, Denver Colorado

80239-3018

USA

Samsonite India Ltd

Tainwala House,

18th Road,

MIDC Andheri (East),

Mumbai

Designing, manufacturing, marketing and distributing a wide range of travel goods.

Delhi

Amendment in the existing FC approval

No fresh inflow is involved

2

Schenectady International Inc

1302 Congress Street & Tonth Avenue,

Schenectadty

New York 12303, USA

Schenectady (India) Holdings Ltd

Beck House, Damle Path,

Off. Law College Road,

Pune

Manufacture of Alkyl phenols etc.

Not indicated

Issue of 15% Optionally convertible Preference Shares

8.00

3

Sulzer Medica AG

CH-8401 Winterthur

Switzerland

Sulzer Orthopedics India Private Limited

6th Floor, Crown Court

34 Cathedral Road,

Chennai

Import and trading of high-tech orthopedics medical implants and instrument

Not indicated

Amendment in the existing FC approval

No fresh inflow is involved

4

CSC Holding BV

PO Box 75706

1118ZR Schiphol

Netherlands

M/s. Cargo Service Centre(I) Pvt. Ltd.

C/o. Yashpal Kumar & Co

94, Arcadia

Nariman Point

Bombay

business of transportation, carriage and warehousing of cargo and to provide cargo handling and logistic services

Mumbai

Amendment in the existing FC approval

No fresh inflow is involved

5

M/s. Ansys Inc

Southpoint

275, Technology Drive

Canonsburg, PA1531

USA

Ansys Inc

C/o. Pricewater House & Co

Sucheta Bhawan,

Gate No. 2

II nd floor, 11-A

Vishnu Digambar Marg,

NEW DELHI

To import, market, distribute and promote sale of software, to provide consultancy, training on Ansys software products and service to customers

New Delhi

Transfer of 10,000 shares held by subscribers to foreign collaborator

0.01(at par)

6

Franklin Templeton Holding Ltd

C/o. Templeton Worldwide Inc

Broward Financial Centre

500 East Froward

Boulevard

Suite 2100, Fort Lauderdale

USA

Templeton Asset Management (India) Pvt Ltd

125, Free Press House,

Nariman Point,

Mumbai

Asset management company

Delhi

Issue of Optionally Convertible Preference Shares

290.00

7

Don Construction Products Ltd

Churnetside Business Park

Station Road, Cheddleton,

Leek, Staffs ST13 7RS, UK

Don Construction Chemicals India Ltd

III Floor, Khaleeli Centre

149, Montieth Road

Egmore, Chennai

manufacture and marketing of construction chemicals

Chennai

100%

0.30

8

Foreign & Colonial Emerging Market Ltd

Exchange House, Primrose Street, London EC2A 2NY

M/s. Sun F&C Management (India) Pvt Ltd

World Trade Centre 1

19th Floor,

Cuffee Parade,

Mumbai

NBFC activities

Not indicated

Increase in foreign equity from 43.5% to 43.997%

1.17

9

H.J. Heinz Company

P.O. Box 57

Pittsburgh

Pennsylvania - 15230-0057

USA

Heinz India Pvt Ltd

The Great Eastern Centre

70, Nehru Place

New Delhi

Setting up of 100% owned holding company to make investments in the area of food processing, nutritional products and other consumer products

Delhi

Amendment in the existing FC approval

No fresh inflow is involved

10

M/s. Bongrain International,

65 Avenue International

750 07, Paris

M/s. Dabon International Pvt Ltd

A-41 & 42, Phase II Extn.

Noida - 201 305

International wholesale trading of cheese and other milk products not reserved for SSI

Ghaziabad

Amendment in the existing FC approval

No fresh inflow is involved

11

Movenpick Foods International Ltd

Sinserstrasse 47 PO Box 585

CH-6330, Cham, Switzerland

Movenpick Asia Pacific Ltd. (India Liaison Office)

B-6/7, 3rd Floor, Commercial Centre,

Safdarjung Enclave,

New Delhi

To do business development of MOVENPICK Products in India and rest of the neighbouring countries

New Delhi

100%

0.10

12

Medtronic International Limited

1209 Orange Street

wilmington

USA

India Medtronic Private Limited

919/2, GIDC

Makarpura

Baroda

Manufacturing, assembling, servicing, maintaining, operating, supplying, instruments used in Medical, bio-medical, surgical, processing, health care, diagnosis, sciences etc.

Mumbai

Increase in foreign equity from 51% to 100%

1.03

13

Mr. Shivy Basin and

Mrs. Mridu Bhasin, Kuwait

Bhasin & Co WLL

Post Box 93

Safat 13001

Kuwait

M/s. Pratham Motors

Pvt Ltd

K-5, Hauz Khas Enclave

New Delhi

Maruti car dealership

New Delhi

99.99%

4.99

14

M/s Kolbenschmidt AG

P.O. Box 1351

Karl-Schmidt-Strasse,

D-74172 Neckarsulm

Germany

Shriram Pistons & Rings Ltd

23,Kasturba Gandhi Marg

New Delhi

Manufacture of pistons parts suitable for use with engines

Ghaziabad

Amendment in the existing FC approval

No fresh inflow is involved

15

Stanadyne Automotive Corpn. USA

Stanadyne Automotive Corpn.

C/o. Dua Consulting Pvt Ltd

301-303, Tolstoy House

15, Tolstoy MARg,

New Delhi

design, manufacture and marketing of highly engineered precision engine components

Not indicated

Acquisition of 10,000 shares from the subscribers to the M & AOA

0.01(at par)

16

HM Holdings of Delaware LLC

6430, S. Fiddlers Green Circle

Suite 500

Greenwood Village

CO 80111

USA

Hallmark India Pvt. Ltd

Suite 406, Paharpur Business Centre,

Nehru Place Greens,

New Delhi

Making family entertainment programmes

New Delhi

100%

4.42

17

Molex Internatinal Inc

2222, Wellington Court,

Lisle, Illinois,

USA

M/s. Molex (India) Ltd

Plot No. 6(A)

Sadaramangala Indl. Area,

Kadugodi,

Bangalore

Connectors(including)connectors having wires/cables

Udupi Distt. Bangalore

Amendment in the existing FC approval

No fresh inflow is involved

18

DMG Indormation Inc

2, Stamford Landing

68, Southfield Avenue

Stamford, Connecticut

06902 USA

R.M. Software India Pvt Ltd

A-7, Sector 16, Noida

Software development & consultancy

Mathura Road,

Increase in foreign equity from 95.49% to 95.63%

0.97(with premium)

19

M/s. Davox International Holdings Incorporated, USA

Davox Corporation

C/o. Thakker Thakker

A-320, Defence Colony

New Delhi

Specialized after sales service, marketing & distribution of customized high tech. Products, Software development, consultancy and solutions

New Delhi

Transfer of subscriber shares( 10,000) from resident to non-resident

0.01

20

Motherson Sumi Infotech and Designs Ltd

SWS India Holdings (P) Ltd

43, Community Centre

Bhageria House,

New Friends Colony

New Delhi

Software development

New Delhi

Amendment in the existing FC approval

No fresh inflow is involved

21

M/s. Gemtech Systems LLC

Mr. N. Gopalan Nair &

Ms. R. Geetha Nair

1337 E-Voltaire Avenue

Phoenix, Arizona - 85022

USA

Gemtech Solutions Pvt Ltd

Q-17, Jawahart Nagar

Trivandrum

Development of computer software

Trivandrum

79%

0.0079

22

M/s. Caltex Oil Corporation,

Caltex House

125 John

Carpenter Freeway

DALLAS

TX, USA.

M/s. Caltex Oil Corporation,

54-55, North Usman Road,

T. Nagar, Chennai

Import, storage, distribution, bottling and sale of LPG

Not indicated

Increase in foreign equity from 51% to 100%

219.00

23

Springer-Verlag GmbH & Co

KG Germany

C/o. Bharats Raut & Co

4B DLF Corporate Park

DLF City, Phase III

Gurgaon

C/o. Bharats Raut & Co

4B DLF Corporate Park

DLF City, Phase III

Gurgaon

publishing & re-printing of scientific, technical, medical and other non-fiction books, articles, journals in electronic or printed form and for marketing, export-import licensing of books/articles

/journals.

New Delhi

95%

2.56

24

Kowa Company Limited

6-29 Nishiki 3-chome,

Naka-ku,

Nagoya - 469-8625

Japan

Adani Port Limited

"Adani House", Shrimali Society

Mithakhali Six Roads,

Ahmedabad

Development of port back up facilities in terms of storages and cargo handling equipments for their dry bulk and liquid bulk cargo

Navinal Island, Mundra Port, Kachchh, Gujarat

3.43%

23.40(Including premium)

25

Matsushita Electric Industrial Company Ltd, Japan

National Panasonic India Ltd

AB-11, Community Centre,

Safdarjung Enclave,

New Delhi

Import of products and goods that are not manufactured by the Matsushita Group of companies of the Matsushita Group outside India

Not indicated

Amendment in the existing FC approval

No fresh inflow is involved

26

NRIs

M/s. Ginni International Ltd,

8th Floor, Padma Tower-II,

22, Rajendra Place

New Delhi

Manufacture of Yarn, knitted fabrics and woven fabric

Alwar, Rajasthan

Increase in foreign equity from 44% to 47%

4.23

27

Inter-continental Hotels Corporation,

Three Ravinia Drive, Atlanta

Georgia, USA

GL Hotels Limited

Dairy Tops

J-177, Bhosari,

Pune - 411 026

( SIA No. 468/2001-FC.I)

Business of Hotels & Tourism

Mumbai

13%

14.10

28

Mr. Suketu Mody, USA and

M/s. Cendant Global Services BV, The Netherlands

M/s. Coldwell Banker India Ltd,

304, Arun Chambers

Tardeo, Mumbai

Services to real estate brokers

Delhi

51%

1.02

29

Michael Bonke

Godehardstrasse 44

94469 Deggendorf

Germany

( SIA No. 475/2001-FC.I)

Goldinglass India Pvt Ltd

C/o. Ganesan and company

23, Jawaharlal Nehru Street,

Pondicherry

manufacture and sale of fused multilayered glass tiles

Pondicherry

95%

0.31

30

Coventa Five Limited

3rd Floor, Cerne House,

La Chaussee, Port Louis

Mauritius

Coventa Energy India Pvt Ltd

Oxford Centre,

62/63, 3rd Floor

C.P. Ramaswamy Road

Alwarpet, Chennai

Technical, financial and general consultancy services

Chennai

100%

0.01

31

Amway Corporation

7575 Fulton Street, East,

Ada, Michigan, USA

Amway India Enterprises

A-5, Kailash Colony,

New Delhi

To establish and develop a direct selling business of products which shall be soured from local independent Indian small scale manufacturers by providing tech. Support to products of international standard

Not indicated

Amendment in the existing FC approval

No fresh inflow is involved

32

Brita Wasser-filter-systeme GmbH, Germany

M/s. Usha Shriram Brita Pvt Ltd

Block A, DDA Commercial Complex,

Ring Road

Naraina, New Delhi

Filtering and purifying machinery

Not indicated

Amendment in the existing FC approval

No fresh inflow is involved

33

Dresser-Rand Co

USA

Dresser-Rand India Pvt Ltd

production and marketing of gas compressors, gas turbines, power turbines etc.

Not indicated

Transfer of shares held by subscribers

No fresh inflow is involved

34

Iscar International BV, The Netherlands

Taegutec Ltd, Korea

Taegutec India Ltd

Plot No. 119 & 120

Bommasandra Indl. Area

Phase 4

Bangalore

manufacture and sale of indaxible inserts and metal cutting tools

Bangalore

Conversion of loan into equity

1.95

35

M/s. Hydro Coatings Ltd

(Now BASF Coatings Ltd,)

UK

BASF Coatings Ltd.

27th KM off

Bellary Road

Sadahalli P.W.D. Road

Doddajala Post

Bangalore

Manufacture of Synthetic Speciality coatings

Bangalore

Conversion of GBP 0.30 million into equity

2.10

36

Guenther Wirth, Germany

G.W. Precision Tools India Pvt Ltd

" Sarfarazi"

87/5, Richmond Road

Bangalore

Manufacture complete range of carbide cutting tools used in the automobile industry

Bangalore

Increase in foreign equity from 60% to 65%

0.0625(at par)

37

M/s. Shimadzu (Asia Pacific) Pte Ltd, Singapore

Shimadzu (Asia Pacific) Pte Ltd

C/o. Kousik Ganesh & Co

No. 9-D, Kamalabai Street,

T.Nagar, Chennai

development and export of software for various medical and scientific equipment etc.

Chennai

Amendment in the existing FC approval

No fresh inflow is involved

 
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