15th December, 2003
Ministry of Finance  


32 FDI PROPOSALS CLEARED


Union Finance Minister, Shri Jaswant Singh has approved 32 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on December 5, 2003. The approvals amount to around Rs. 263.046 Crore. The major investment proposals pertain to manufacture of plastic/polymer, cash and carry wholesale trading and distribution and logistics of food and non-food items etc. setting up of edible oil refinery and vanaspati manufacturing plant, manufacture of engineering accessories, software development and manufacture of copper jelly filled telephone cables, optical fibres etc

The details of proposals cleared are as follows:

S.No.

Name & Address of the existing/proposed foreign company

Name & Address of the Indian company, if already incorporated

Activity

Location

Particulars of the proposal

Amount of FDI/NRI/OCB Investment

(Rs. In crore)

1

Mr. Ramana Epparala

Mrs. Siva Epparala

M/s. KICM (Madras) Ltd

New No. 18

(Old No. 123)

G.N. Chetty Road

T. Nagar, Chennai-17

Manufacture and sale of fresh processed mushrooms

Chennai

Transfer of shares from resident to NRI

0.0584

2

M/s. PALSS GmbH

72358 Dormettingen,

Germany

M/s. PA Life Sciences Services Pvt. Ltd.

5, Ceebros, 10th Ave

Harrington Road

Chennai

Import, assembly, marketing and servicing of the range of sophisticated/

Laboratory instruments, systems and devices for life sciences, particularly biotechnology

 

 

 

 

Chennai

To set up wholly owned subsidiary

0.52

3

M/s. Mitsubishi Chemical Corpn.

5-2, Marunouchi,

2-Chome,

Chiroda Ku,

Tokyo-100, Japan

M/s. MCC PTA India Corp. Private Limited

22, Camac Street,

Block "C", 4th Floor

Kolkata-16

Mfr. Mktg. sale and distribution of purified terephthalic acid, poly-carboxylic Acids, their anhydrides, halides, peroxides and peroxyacids, their halogenated, sulphonated,

nitrated or nitrosated derivates.

West Bengal

Addition in the activities clause

No inflow

4

M/s. HS R&A Co. Ltd. Korea

M/s. HSI Automotives Ltd

A 21/A 22, Industrial Estate, Guindy

Chennai - 32

Manufacture of PVC profiles, rubber profiles, radior coolant, hoses and PVC injection mouldings for automotive industries

Chennai

Change in the payment of royalty terms

No inflow

5

Mr. Raj Agrawal

1415, Steels Avenue,

S.W. Grand Rapids,

Michigan, USA

M/s. Polymers Research & Technology and

M/s. Dinanath Enterprise

Street 1012 Rohit

AC Market, Ring Road

Surat, Gujarat

Manufacture of Plastic/ Polymer

Not indicated

To set up two proprietary concerns with 100% NRI investment

2.88

6

M/s. Ellsberry Holdings Ltd

C/o. Multiconsult Ltd

10, Frere Felix De Valois Street,

Port Louis, Mauritius

M/s. Parkville Holdings Ltd

C/o. Multiconsult Ltd

10, Frere Felix De Valois Street,

Port Louis, Mauritius

M/s. Portlog Overseas Holdings Ltd

P.O. Box 393, 7-11, Britannia Place Bath Street, Mauritius

M/s. Radhakrishna Foodland Pvt Ltd

Radhakrishna House

Majiwade Village Road

Majiwade, Thane(West)

Maharashtra

Wholesale trading in and distribution and logistics of food and non-food items etc.

Thane, Mahatashtra

Foreign investment to the extent of 100%

240.00

7

M/s. Concerto Software Inc. USA

M/s. Concerto Software India Private Limited

509, Paharpur Business Centre, 21, Nehru Place

New Delhi-19

Specialized after sales services, marketing and distribution of customized high technology products, consultancy and solutions, and software promotion

New Delhi

Amendment in the activity clause

No inflow

8

M/s. Acalpo Wilmar Pte. Ltd

9, Battery Road

# 13-10,

Straits Trading Building, Singapore-049910

M/s. Acalmar Oils & Fats Limited

203, Diamond House

Behind Topaz Building

Punjagutta, Hyderabad

Setting up of edible oil refinery and vanaspati manufacturing plant

Kakinada, Andhra Pradesh

To set up another unit at Haldia

3.00

9

M/s. United Conveyor Corporation (UCC), USA

M/s. United Conveyor Corporation (India) Pvt Ltd

32, Chowringhee Road

14th Floor, Calcutta

Business of design, mfr. And supply of ash handling equipment as required for fossil fired power generating units

Calcutta, West Bengal

Conversion of ECB into equity within the approved percentage of foreign equity

No inflow

10

M/s. General Motors Corporation, USA (Fin.)

M/s. Adam Opel AG (Tech.)

General Motors India Pvt Ltd

Sixth Floor,

"A" Global Business Park,

Mehrauli-Gurgaon Rd.

Gurgaon – 122 022

Manufacture of passenger cars and commercial vehicle

Halol (Guj.)

To remit payment of increased lump sum engineering fee

No inflow

11

M/s. Arai Seisakusho Co. Ltd

30-1, Horikiri, 3-Chome

Katsushika-ku

Tokyo, Japan

M/s. Mitsubishi Corpn.

3-1, Marunouchi,

2-Chome, Chiyoda-ku

Tokyo, Japan

M/s. Hi-tech Arai Ltd

No. 2, V.P. Rathinasamy Nadar Rd

North Chokkikulam,

Madurai – 625 014

Tamil Nadu

Manufacture of O Ring, Oil Seals, Moulded Rubber parts, reed valve assembly

Virudh Nagar,

Thanakkankulam

Transfer of shares from resident to non- resident

2.70

12

M/s. GE Capital Mauritius equity Investment

Les Cascade Building

Edith Cavell Street,

Port Louis,

Mauritius

M/s. TV Today Network Limited

Videocon Tower,

E-1, Jhadewalan Extn.

New Delhi-55

Engaged in the business of owning and operating a 24 hour Hindi News and current affairs television channel

Delhi

To make an IPO of fresh shares upto a maximum of 10,000,000 equity shares

Not given

13

M/s. Fortuna Technologies, USA

M/s. Fortuna Technologies India Pvt Ltd

Leval 5, Venkat Plaza,

Hyderabad

Software development and training

Hyderabad

Conversion of NRI equity from non-repatriation basis to repatriation basis

No inflow

14

M/s. LPL Technologies Holding HmbH

August-Hausser-strabe 10, 74080, Heilbronn

Germany

M/s. Amphenol Interconnect India Pvt. Ltd

(Formerly Amphetronix Pvt. Ltd.)

105, Bhosari Industrial Area,

Pune – 411 026.

Manufacture, selling and trading in electronic connectors and cables

Pune and Bangalore

Amendment in the activity clause

No inflow

15

M/s. Acer Computer International Limited

29, International Business Park

#01-01, Acer Building,

Tower A

Singapore – 609923

M/s. Acer India Private Limited

Ist Floor, George Thangiah Complex

(East),

80, Feet Road,

Indiranagar,

Bangalore – 75

Wholesale trading on cash and carry basis

Bangalore

To undertake cash and carry wholesale trading

No inflow

16

M/s. Dell International Incorporated

One Dell Way

Round Rock, TX 78682,

Texas, USA

100% WOS

To undertake specialized after sales service, marketing & distribution of customized high technology computers system, storage devices and peripherials, computer consulting and solutions and software promotion

Karnataka

To set up 2nd wholly owned subsidiary

2.50

17

M/s. Tutors Worldwide Inc.

3601, Spring Mountain

Plano, TX 75025, USA

100% WOS

Offer online tutoring and IT enabled Services(ITES) through an educational call centre

Chennai

To set up 100% subsidiary

1.00

18

M/s. Param Technologies

12347, Palm Street,

Cerritos

California 90703 USA

M/s. WEBEL-SL Energy Systems Ltd

Plot No. N1, Block-GP

Sector-V

Salt Lake Electronics

Complex

Kolkata-700 091

Manufacture of solar cell, solar PV module & Solar PV & Hybrid system

Kolkata

Transfer of shares from resident to non – resident

0.50

19

M/s. Myogenic Biotech Limited

10, Babmaes Street,

London SW1Y 6HD

UK

M/s. Sterling Synergy Systems Pvt. Ltd.

Kamdar Shopping Centre,

Office No. 5

Ist Floor, Tejpal Road

Vile Parle (East)

Mumbai

 

Transfer of shares from resident to non- resident

0.01

20

M/s. Twinstar Holdings Limited

C/o. Multiconsult Ltd

P.O. Box No. 799,

10, Frere Felix de Valois Street,

Port Louis, Mauritius

M/s. Sterlite Industries (India) Limited

B-10/4, Waluj

MIDC Industrial Area

Waluj,

Distt. Aurangabad

Maharashtra

Manufacture of copper jelly filled telephone cables, optical fibres etc.

 

Increase in foreign equity from 55.17% to 75% by way of acquisition of equity shares from the secondary market and/ or by way of acquisition from co-promoters /or by way of private arrangement.

7.13

21

M/s. Twinstar Holdings Limited

C/o. Multiconsult Ltd

P.O. Box No. 799,

10, Frere Felix de Valois Street,

Port Louis, Mauritius

M/s. Sterlite Optical Technologies Ltd

Dhanraj Mahal,

5th Floor, CSM Road

Apollo Bunder,

Mumbai, Maharashtra

M/s. Manjiri Finvest Private Limited

92, Maker chambers III

Nariman Point

Mumbai

Manufacturing of optical fiber and optical fiber cables

Aurangabad, Mumbai

Transfer of shares from OCB to foreign investor

No inflow

22

M/s. Poly Products LLC, Oman

M/s. Raha Poly Products Ltd

‘Mayfair Complex’

1-8-303/34/1

Sardar Patel Road

Secunderabad -3

Mattress support, articles redding and similar furnishing fitted with springs or stuffed or internally fitted with any material or cellular rubber plastics, whether or not covered

Not indicated

Increase in foreign equity by way of transfer of shares from resident and non- resident Indian shareholders to foreign investor and conversion of ECB into cumulative redeemable preference shares

1.16

23

M/s. Middle East Fuji LLC,

P.O. Box 19227, Dubai, UAE

M/s. ACE Inland and Offshore Services Pvt. Ltd

Ashok Chambers,

Unit No. 26, IInd Floor

Devji Ratansey Marg,

Masjid Bunder (East)

Mumbai

Business of catering, supply of foodstuff, food provisions for inland and offshore vessels, ships and also maintain the manage kitchen of vessels, ships in India and abroad, supply of personnel required for maintaining kitchen of vessels, ships etc.

Mumbai

Transfer of shares from resident to non- resident

0.01

24

(Baby) Batra Riana (through her mother and natural guardian Ms. Sonal Patel),

12, Buell Mansion, Pwky, Englewood,

CO 80110, USA

M/s. Patel Engineering Ltd

Engineers and Contractors

"Tunneldam"

Mumbai – 400 102

Civil engineers, contractors & consultants

Mumbai

Gift of shares from non- resident to non- resident

No inflow

25

Georg Grammer,

Kirshensteig 34,

D-92224 Amberg,

Germany

M/s. Harita Venu Private Limited

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

26

Georg Grammer,

Kirshensteig 34,

D-92224 Amberg,

Germany

M/s. Harita Sheela Private Limited

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

27

Georg Grammer,

Kirshensteig 34,

D-92224 Amberg,

Germany

M/s. Harita Gopal Private Limited

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

28

Georg Grammer,

Kirshensteig 34,

D-92224 Amberg,

Germany

M/s. Harita Financial Services Limited,

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

29

Martin Grammer

Pfistermeisterstrasse 49,

92224, Amberg, Germany

M/s. Harita Malini Private Ltd.

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

30

Martin Grammer

Pfistermeisterstrasse 49,

92224, Amberg, Germany

M/s. Harita Lakshmi Investments (P) Ltd

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

31

Martin Grammer

Pfistermeisterstrasse 49,

92224, Amberg, Germany

M/s. Harita Investment Holdings (P) Ltd.

"Jayalakshmi Estates"

8 Haddows Road

Chennai-6

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972

32

Martin Grammer

Pfistermeisterstrasse 49,

92224, Amberg, Germany

M/s. Vasishta Investments Private Limited

3C "Coventry Apartments"

3/2, Convent Road

Bangalore

Manufacturing seats and fitness equipment

Chennai

Transfer of shares from resident to non resident

0.1972