26th November, 2002
Ministry of Commerce & Industry  


ARUN SHOURIE CLEARS FDI WORTH Rs.206 CRORE


Shri Arun Shourie, Minister for Disinvestment and Commerce & Industry, has approved 41 proposals of foreign direct investment (FDI) amounting to Rs.206 crore, on the recommendations of Foreign Investment Promotion Board (FIPB). The major investment proposals pertain to the sectors such as biotechnology, telecommunications, manufacture of electrical components, information technology & software development, consultancy & advisory services and NBFC activities. A list of proposals cleared is enclosed.

FIPB MEETING HELD ON 31.10.2002 & 14.11.2002

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

crore)

1

Novozymes (Singapore) Pte. Ltd

141 Middle Road

#04-07, GSM building

Singapore-188976Singapore

Novozymes South Asia PrivateLimited(NZIN)

16-VIIth Floor, Innovator,

International Technology Park,

White Field Road,

Bangalore

Manufacturing/process-ing of industrial enzymes and the distribution of various industrial enzymes in India

Bangalore

100%

5.00

2

Eaton Hydraulics Inc

Eaton Center

1111 Superior Avenue

Cleveland, OH 44114-2584, USA

Vickers Systems International Ltd

145, Off Mumbai-Pune Road, Pimpri, Pune-18

Design, manufacturing and marketing of a comprehensive line of hydraulic systems and components for agriculture, construction, industrial mining applications

Delhi

Increase in foreign equity from 51% to 100%

1.81

3

Computer Associates International Inc. USA

ACCPAC India Private Ltd

B-102, Prestige Center Point,

#7, Edward Road

Bangalore-560 052

Computer software designing, development etc.

Bangalore

Increase in equity from 51% to 100%

1.03

(at par)

4

Pebble Creek Resources Ltd, Canada

Adi Gold Mining Private Limited

H-142, New Saraswati Society

Sector-9

Rohini, Delhi-85

Undertake exploration and mining of copper, zinc and lead and manufacturing concentrates

Pithoragarh, Uttar Pradesh

Amendment in the existing FC approval

No fresh

Inflow is

Involved

5

Mr. Jehangir J. Guzder

310, Victoria Avenue,

Suite 408, Westmount,

Montreal, Que, Canada

M/s. AFL Private Limited

AFL House, Lok Bharti Complex,

Marol Maroshi Road,

Andheri(E), Mumbai

Cargo handling incidental to Land/water/air transport, courier and logistics related activity

Mumbai, Maharashtra

Increase in foreign equity from 5.52% to 9.46%

0.45

6

South Asia Regioal Fund(SARF), Mauritius

Satyam Infoway Ltd

Mayafair Centre,

II floor, 1-8-303/306,

S.P. Road

Secunderabad-3

Setting up public data network for providing electronic commerce, electronic data interchange and internet services

Chennai

Increase in foreign equity from 44.7% to 57%

US $ 13.00

Million

( 65.00 Cr)

including

premium

7

Cesma International Pvt Ltd, Singapore

Hua Kok Reality (Pvt.) Ltd, Singapore

Hua Kok Industrial Building,

32, sungei Kadut Way,

Singapore 728 787

Tiong Seng contractors (Pte.) Ltd, Singapore

510 Thomson Road

#19-00, SLF Building,

Singapore 298135

Neo Corporation Pte Ltd, Singapore

1 Irving Road,

#07-01, Singapore

Cesma International Pvt Ltd.

C/o. J. Sagar Associates

F-3, Ligoury Court

7 Palm Grove Road

Victoria Layout

Bangalore-47

Consultancy and related service for construction and real-estate industries

Delhi

Downstream investment for 100% WOS

1 million

Singapore

Dollors

(2.20 Cr

Approx)

8

Terraco Holdings Ltd

P.O. Box 4092

Limassol, Cyprus

Sweden Terraco (India) Private Limited

218, Hanuman Estate

G.D. Ambedkar Marg

Wadala, Mumbai

Manufacture and sale of finishing materials and chemicals for construction industry and industrial adhesives and coatings

Vapi, Gujarat

100%

2.00

9

Suzuki Motor Corporation

300, Takatsuka

Hamamatsu

Japan

Maruti Udyog Limited

11th Floor

Jeevan Prakash

25, Kasturba Gandhi Marg, New Delhi-1

Setting up an Aluminium Foundry which will mfr. Aluminium castings for various applications including automobiles

Gurgaon, Haryana

51%

12.75

10

M/s. Siemens AG,

Berlin, Germany

VXL Landis & GVR Ltd

C/o. amarchand & Mangaldas & Suresh A. shroff & Co

Peninsula Corporate Park

Ganpatrao Kadam Marg

Lower Parel, Mumbai

Manufacture, calibration, assembly, sale and service of house service and specialized KWH meters and electronic tariff registers and meter test consoles, relays and control panels

Joka, 24, Parganas, West Bengal

Increase in foreign equity from 87.26% to 100%

25.00

11

Individual NRIs – Yet to be identified

M/s. Sahjanand Marketing Pvt Ltd

Sai Kruti Complex, Nr Hari Nagar Water Tank,

Gotri Road, Vadodara

Whole sale trading of building material, cement, steel, construction chemicals

Vadodara, Gujarat

85%

1.70

12

H.E. Excellency Yusuf Bin Alawi Abdullah

P.O. Box 5553

Ruwi

Sultanae of Oman

Shantha Biotechnics Pvt Ltd, Serene Chambers,

IIIrd Floor, Road No. 7

Banjara Hills,

Hyderabad-34

Manufacture of Hepatitis B Vaccine, Alpha Interferon, Restriction Enzymes Bio-tech Lab Reagents

Hyderabad

Increase in foreign equity from 50% to 50.46%

1.55

13

Pigment Colour Ltd

P.O. Box HM 1022

Richmond House,

12, Par-La Ville Road

Hamilton HM DX,

Bermuda

European Colours India Private Limited

22, Ajay Shopping Centre, T.H. Kataria Marg, Matunga(West)

Mumbai

Manufacture, sell and distribute organic pigments, inorganic pigments and pigment preparations

Mumbai

99%

3.50

14

Sumitomo Corporation,

1-222-2, Hitotsubashi

Chiyoda-ku

Tokyo 100, Japan

Sumitomo Corporation India Pvt Ltd

Antriksh Bhawan

22, K.G. Marg

New Delhi-1

Engaged in the process of procurement and supply of materials and equipments

Mumbai

Downstream investment

1.99

15

Cargill International Trading Pte Ltd

300 Beach Road # 23-01

The Concourse

Singapore 199555

100% WOS

Engage in trading, advisory and consulting services

Not indicated

100%

25.00

16

M/s. Excel Technology Inc.

41 Research Way East Setauket,

NY 11703, USA

Excel Laser Technology Private Limited

A1-424, Shah & Nahar Industrial Estate,

Dhanraj Mill Compound

Lower Parel, Mumbai

Import of laser equipment and promote local sales marketing

Mumbai

50%

0.25

17

Travalex Plc

65 Kingsway

London WC2B 6TD

United Kingdom

Travelex India Private Limited(under incorporation)

Forex broking and money changing businesses

Mumbai

100%

40.00

18

Prudentia AG Revisionen

6300 ZUG

Artherstrasse 6

Switzerland

Swiss Re Services India Pvt Ltd

C/o. Crawford Bayley & Co. State Bank of India bldg. NGN Vaidya Marg

Mumbai – 23

Non-fund based NBFC consultancy company

Mumbai

Transfer of 10,000 shares

0.01

19

M/s. Jumbo World Holdings Ltd. Al Salam Tower, Sheikh Zayed Road P.O. Box No. 2548

Dubai, UAE

M/s. Shaw Wallace & Co Limited, Dunlop House 132 A, Dr. Anne Besant Road,

Worli, Mumbai

Manufacture/marketing/distribution of Alcoholic Beverages, Marketing of Agrichem Products

Bangalore

Increase in foreign equity from 39.07% to 43.93%

3.33

20

M/s. Medici Holdings Limited, USA

M/s. TTK Services Pvt Ltd. 202, Raheja Chambers,

12 Museum Road

Bangalore

Rendering services to NRIs by way of Healthcare and property services etc.

Bangalore

Amendment in the existing approval

No fresh

Inflow is

Involved

21

Suzuki Motor Corporation

300, Takatsuka-Cho

Hamamatsu-shi

Shi Zuoka-ken

Japan

Maruti Udyog Limited

11th Floor

Jeevan Prakash

25, Kasturba Gandhi Marg

New Delhi-1

Import of grand vitara model and its variants vehicles in CBU condition for development of marketing for their holding company

Gurgaon, Haryana

Amendment in the existing FC approval

No fresh

Inflow is

Involved

22

Nippon Thermostat Company Limited

6-59-2, Nakasato Kiyose

City Tokyo 204

Japan

Nippon Thermostat

(India) Limited

GA & GB, "Riviera Park" No. 11, 4th Main Road Extn.

Kotturpuram, Chennai

Extn of technical collaboration agreement

Kotturpuram, Chennai

Amendment in the existing FC approval

No fresh

Inflow is

Involved

23

Sulzer Textil Limited

CH-8630 Ruti ZH

Switzerland

Sultex (India) Pvt Ltd

Karmayog Building

Parsi Panchayat Road

Andheri (East),

Mumbai-69

To carry on the business of after-sales service for hi-technology textile machinery

Mumbai

100%

2.00

24

Sumitomo Corporation,

1-222-2, Hitotsubashi

Chiyoda-ku

Tokyo 100, Japan

J.J. Impex (Delhi) Private Limited

F-39, Okhla Industrial Area, Phase II

New Delhi-20

After sales services

New Delhi

Increase in foreign equity from 47.5% to 50%

Amount not

Indicated

25

M/s. Hakuhodo Inc

4-1, Shibaura

3-chome

Minatyo-ku

Tokyo 1088088

Japan

M/s. Tygermen India Pvt Ltd

Ernst & Young Pvt Ltd

18th Floor,

Express Towers

Nariman Point

Mumbai-21

Engage in full scale advertising agency

Mumbai

Amendment in the existing FC approval

No fresh

Inflow is

Involved

26

  1. M/s. Lanco Solutions Inc. USA
  2. Lanco Century Solutions Inc. USA
  3. M/s. Lanco Global Systems Inc. USA
  4. M/s. Living Stone Consulting Group Inc. USA

M/s. Lanco Global Systems Ltd

8-3-993, Lanco Towers

Srinagar Colony

Hyderabad

Development of Computer Software

Hyderabad

Increase in foreign equity from 47.83% to 78.33% by share swap

No physical

Inflow is

Involved

27

M/s. Globally Managed Services Limited

Level 3, Horatio House

77 Fulham Place Road

Hammersmith,

London W6 8JA

United Kingdom

M/s. Globally Managed Services Private Ltd

(under Incorporation)

3rd Floor,

Mumbai educational Trust

Gen AKV Chowk,

Bandra

Reclamation, Mumbai

Software development and IT enabled services Viz., Business process outsourcing etc.

Mumbai

100%

3.73

28

Cadence Design Systems Inc

555, River Oaks Parkway

San Jose

CA 95134, USA

Cadence Design Systems (I) Pvt Ltd

First Floor,

Embassy Classic No. 11

Vittal Mallya Road

Bangalore

Permission for import of spare parts for after-sales support

Bangalore

Amendment in the existing FC approval

No fresh

Inflow is

Involved

29

Sharp Corporation, Japan

Sharp Business Systems (India) Limited

214-221, Ansal Tower,

38, Nehru Place

New Delhi -19

Confirmation regarding permission for import, export and trade in hi-tech items including fax machines

New Delhi

Amendment in the existing FC approval

No fresh

Inflow is

involved

30

Neoteris International Inc

2711 Centerville Road

Wilmington,

County of New Castle,

Delaware 19808, USA

Neoteris Software India Pvt Ltd Plot # 362/1/A,

Road # 25, Jubilee Hills, Hyderabad

Software development

Hyderabad

Increase in foreign equity from 91% to 100%

0.01

31

Aarohi communications Inc

405, River Oaks Parkway

San Jose

CA 95134, USA

Aarohi Communicatons India Pvt Ltd

102, Koramangala Indl.

Layout, 5th Floor

Bangalore

Software development

Bangalore

100%

0.01

32

M/s. BDK Societe Ltd

75 Kingsbridge Road

Norwood Green, Middx

UB25RU, England, UK

M/s. Mormugao Maritime Limited

Cidade De goa

Vainguinim Beach, Dona Paula, Goa

Infrastructure sector to establish/maintain/operate shipping services (Public & Private) for carriage of passengers and goods of all kinds

Goa

25.11%

2.26

33

M/s. Toyota Tsusho Corporation

Tokyo Head Office

(Toyota Kundan Building)

3-18, Kundan-Minami

2-Chome, Chiyoda-ku

Tokyo – 102, Japan

Steel and Logistic Centre Private Limited

Toyoto Techno Park

Plot No. 20, Building No. 4

Bidadi Indl. Area

Ramanagara Taluk

Bangalore

Sourcing and re-sale at wholesale level to sectors other than automobile

Bangalore

Amendment in the existing FC approval

No fresh

Inflow is

involved

34

  1. M/s. Zenolink technologies, (Wholly owned NRI(Polo), 105-107, Lexdngton Ave, Waterloo, ON N2J 4RT, Canada
  2. M/s. Finlone Techologies Ltd, 180, Frobdsher Dr. Undt 1C, Waterloo, ONN2V 242, Canada

M/s. Trinet India Pvt Ltd

5, Tagore Garden

Ambala Cantt. Ambala

(Haryana)

Internet Services with Gateways

Gurgaon, Haryana

74%

2.79

35

M/s. Benetton Group SPA

31050 Ponzano Veneto(TV) Italia

DCM Benetton India Ltd

Kunchenjunga Bldg.

1st Floor, 18, Barakhamba Road

New Delhi

Setting up an integrated manufacturing facility for textile sector in the knit fabric area

New Delhi

Amendment in the existing FC approval

No fresh

Inflow is

Involved

36

IBEX Gallagher Group,

New Zealand

IBEX Electronics

175/54, Ratanvilas Road

Basavanagudi

Bangalore-560004

Extension of Technical collaboration agreement

Bangalore

Amendment in the existing FC approval

No fresh

Inflow is

Involved`

37

BVQI Holding S.A

17 bis Place des Reflets,

La Defense

2-92400, courbevoie,

Paris, France

BVQI India Private Limited

The Leela galleria

5th Floor, Andheri –Kurla Road

Andheri(E) Mumbai

Carry on the business of certification and audit of quality, environment, safety and other management systems to national and international standards etc.

Mumbai

100%

0.05

38

Geopetrol International Inc Calle 53, Urbanizacion Obarrio

Torre Swiss Bank

Panama RP

100% subsidiary

C/o. Vaish Associates,

10, Hailey Road

Apts. 5,6 & 7

New Delhi

Oil exploration, other oil field related services

New Delhi

100%

0.24

39

Sulzer Pumps Limited

Zuercherstrasse 12

CH-8401 Winterthur

Switzerland

Sulzer Pumps India Ltd

9 MIDC Digha

Thane Belapur Road

Navi Mumbai

Manufacture of certain types of pumps used in chemical, petro-chemical, petroleum refinery and industrial power sector

Mumbai

Increase in foreign equity from 98% to 100%

0.54

40

Aldes Aeraulique S.A.

20, BVD Joliot Curie

69694 Venissieux Cedex

France

Aldes Air Technologies Pvt Ltd

#504, Carlton Towers

1, Airport Road,

Cedex, Bangalore-8

Providing air diffusion, quality and management solutions and related services

Bangalore

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

0.01

41

M/s. Jumbo World Holdings Ltd.

Al Salam Tower,

Sheikh Zayed Road

P.O. Box No. 2548

Dubai, UAE

M/s. Falcom Tyres Ltd

K.R.S. Road

Metagalli, Mysore

Manufacture/marketing/distribution of Automotive Tyres and Tubes

Mumbai

Increase in foreign equity from 0.06% to 30.71%

1.83