Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)

***

Udyog Bhavan, New Delhi-110 011
Dated, the 3^rd April, 2001.

PRESS RELEASE

On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 44 proposals of Foreign Direct Investment amounting to around Rs. 545.00 Crore. The major investment proposals pertains to chemicals and pharmaceuticals, tourism, infrastructure and IT related services including software development. A list of proposals cleared is enclosed.

( I. SRINIVAS)
DIRECTOR

FIPB MEETING HELD ON 28.03.2001

(No.10/2001)

S.No.

Name of the company .

Activity

Percentage of FDI/NRI investment

Amount of FDI/NRI inflow( Rs. In crores)

1

M/s. Eli Lilly Ranbaxy Pvt Ltd

Manufacture of Drugs and Pharmaceuticals

Increase in foreign equity from 50% to 100%

79.9

2

M/s. Schenectady (India) Holdings Ltd

Manufacture of Alkylphenols

Increase in foreign equity from 80% 94.97%

8.50

3

M/s. Schenectady (India) Holdings Ltd

Manufacture and sale of chemicals

Increase in foreign equity from 58.37% to 80.66%

13.20

4

M/s. Blaser Swisslube, Switzerland

Import and distribute cutting fluids to test market & manufacture

100%

4.60

5

M/s. Astra Pharmaceuticals AB, Sweden

Manufacture and sale of pharmaceuticals and basic drugs

Increase in foreign equity from 51.5% to 56.499%

16.75

6

M/s. Abbott Equity Holdings Ltd, UK

Manufacture of pharmaceutical formulations

20%

106.27

7

M/s. Cochin International Airport Ltd

Operation of airport

Increase in foreign equity from 27.28% to 41%

0.6

8

M/s. Unger India Pvt Ltd

Manufacture and market tools and equipment under the brand name AUnger@ on a wholesale basis

65%

0.39

9

M/s. Amrit International Rice

Export of Basmati rice and Non Basmati Rice

50%

0.37

10

M/s. Esanda Finanz and Leasing Ltd

NBFC Activities

Increase in foreign equity from 72.75% to 75%

1.08

11

M/s. Associates India Holding Co. Pvt. Ltd

Setting up of a holding company to invest in step down/joint ventures in NBFC sector

Amendment in the existing FC approval

No fresh inflow is involved

12

M/s. Environment Resources Management

Rendering services in the field of Environmental control, resources management, technology and consutlancy

Acquisition of 9% of shares

0.12

13

M/s. Danisco Ingredients (India) Pvt Ltd

Manufacture and marketing of flavour and intermediate products

Increase in foreign equity from 74% to 100%

10.00

14

M/s. Thomyam Food Industries (India) Pvt Ltd, Malaysia

Manufacture of fruit jellies, fruit or nut puree, fruit or nut paste etc.

100%

1.00

15

M/s. Lumax Samlip Industries Ltd

Manufacture of automotive components

Increase in foreign equity from 70% to 100%

3.15

16

M/s. Hackforth GmbH, Germany

Manufacture of highly flexible couplings

100%

5.00

17

M/s. Cho Heung Electric Industrial Co. Ltd., South Korea

Manufacture and supply of accessory components, electric welding machines, jigs & fixtures, parts etc, for automobile and other engineering industries

100%

0.75

18

M/s. IBM India Ltd

Manufacture, marketing and export of computer systems

Amendment in the existing FC approval

No fresh inflow is involved

19

M/s. Domino Printech India Pvt Ltd

Manufacture and marketing of data entry terminals, ink jet printers etc.

Increase in foreign equity from 75.98% to 100%

4.51

20

M/s. Leading Edge Systems Ltd

Providing turnkey software development for the domestic market

Induction of foreign equity by way of equity swap

No fresh inflow is involved

21

M/s. Softsol India Ltd

Software development

Increase in foreign equity from 73.08% to 80.45%

5.33

22

M/s. Microchip Technology Designs (I) Pvt Ltd

Software Development

Amendment in the existing approval

No fresh inflow is involved

23

M/s. Srisoft Consultants Pvt Ltd

Software development and IT enabled services

Equity Swap

Physical inflow is only 4.77

24

M/s. Megalith Resource Centre Pvt Ltd

Software Development

Increase in foreign equity from 85% to 100%

0.0038

25

M/s. IT Microsystems India Ltd

Software Development

Increase in foreign equity from 1.79% to 2.19%

0.02

26

M/s. General Electric International Operation Co. Inc. USA

Infrastructure & IT enabled services, telecommunications and internet

100%

47.00

27

M/s. ACC Rio Tinto Explorations Ltd

Exploration of minerals

Increase in foreign equity from 56% to 62.5%

3.00

28

M/s. Entraco Metals Pvt Ltd

Cobalt Powder

40%

0.2

29

M/s. Enron Wing GmbH, Germany

Wind Energy business

100%

9.4

30

M/s. Bharti Tele Venture Ltd

Promotion of activities relating to the telecom sector

Induction of foreign collaborator

No fresh inflow is involved

31

M/s. Berjaya Vacation Club Berhad

Operate hotels and resorts, providing holiday accommodation and other tourism related services

100%

70.5

32

M/s. Beverly Hotels Pvt Ltd

Construction of a Three Star Hotel

99.99%

2.49

33

M/s. Magnum Papers Ltd

Manufacture of speciality paper, filter paper and blue match paper

Amendment in the existing FC approval

No fresh inflow is involved

34

M/s. Wadpack Ltd

Manufacture of corrugated paper board/fibre board & boxes

Extension of validity of FC approval

No fresh inflow is involved

35

M/s. Mathu Newsprint Ltd

Production of of News print

amendment in the existing approval

No fresh inflow is involved

36

M/s. Flowserve India Controls Pvt Ltd (M/s. Valtek International Pvt Ltd

Manufacture of industrial control valves

Increase in foreign equity from 95% to 100%

0.86

37

M/s. Recording Architecture Ltd, UK

Consultancy in the field of architecture, acoustic and interior design

100%

0.32

38

M/s. Indian Infrastructure Equipments Ltd

Providing Infrastructure equipment service

49.8% - 24.91

FCCBs - 97.29

122.2

39

M/s. Spiderplow India Pvt Ltd

Leasing/hiring cable laying machinery to various Indian contractors

100%

0.25

40

M/s. OEN India Ltd

Manufacture of Electronics Goods

Increase in foreign equity from 3.85% to 4.33%

0.026

41

M/s. Select Multirock Pte Ltd

Export of Granite blocks

Increase in foreign equity from 69.96% to 100%

0.05

42

M/s. Macksons Paints Industries, Sri Lanka

Manufacture of all types of decorative paints, varnishes, & primers for automobile industry

100%

2.00

43.

M/s. Orbit e-Consulting Pvt Ltd

Software Development

Increase in foreign equity from 49.77% to 84.48%

1.7

44.

M/s. Compaq Computer (Mauritius), Mauritius

Investment in e-commerce related activities

7.88%

18.5

S.No.	Name of the company .	Activity	Percentage of FDI/NRI investment	Amount of FDI/NRI inflow( Rs. In crores)
1	M/s. Eli Lilly Ranbaxy Pvt Ltd	Manufacture of Drugs and Pharmaceuticals	Increase in foreign equity from 50% to 100%	79.9
2	M/s. Schenectady (India) Holdings Ltd	Manufacture of Alkylphenols	Increase in foreign equity from 80% 94.97%	8.50
3	M/s. Schenectady (India) Holdings Ltd	Manufacture and sale of chemicals	Increase in foreign equity from 58.37% to 80.66%	13.20
4	M/s. Blaser Swisslube, Switzerland	Import and distribute cutting fluids to test market & manufacture	100%	4.60
5	M/s. Astra Pharmaceuticals AB, Sweden	Manufacture and sale of pharmaceuticals and basic drugs	Increase in foreign equity from 51.5% to 56.499%	16.75
6	M/s. Abbott Equity Holdings Ltd, UK	Manufacture of pharmaceutical formulations	20%	106.27
7	M/s. Cochin International Airport Ltd	Operation of airport	Increase in foreign equity from 27.28% to 41%	0.6
8	M/s. Unger India Pvt Ltd	Manufacture and market tools and equipment under the brand name AUnger@ on a wholesale basis	65%	0.39
9	M/s. Amrit International Rice	Export of Basmati rice and Non Basmati Rice	50%	0.37
10	M/s. Esanda Finanz and Leasing Ltd	NBFC Activities	Increase in foreign equity from 72.75% to 75%	1.08
11	M/s. Associates India Holding Co. Pvt. Ltd	Setting up of a holding company to invest in step down/joint ventures in NBFC sector	Amendment in the existing FC approval	No fresh inflow is involved
12	M/s. Environment Resources Management	Rendering services in the field of Environmental control, resources management, technology and consutlancy	Acquisition of 9% of shares	0.12
13	M/s. Danisco Ingredients (India) Pvt Ltd	Manufacture and marketing of flavour and intermediate products	Increase in foreign equity from 74% to 100%	10.00
14	M/s. Thomyam Food Industries (India) Pvt Ltd, Malaysia	Manufacture of fruit jellies, fruit or nut puree, fruit or nut paste etc.	100%	1.00
15	M/s. Lumax Samlip Industries Ltd	Manufacture of automotive components	Increase in foreign equity from 70% to 100%	3.15
16	M/s. Hackforth GmbH, Germany	Manufacture of highly flexible couplings	100%	5.00
17	M/s. Cho Heung Electric Industrial Co. Ltd., South Korea	Manufacture and supply of accessory components, electric welding machines, jigs & fixtures, parts etc, for automobile and other engineering industries	100%	0.75
18	M/s. IBM India Ltd	Manufacture, marketing and export of computer systems	Amendment in the existing FC approval	No fresh inflow is involved
19	M/s. Domino Printech India Pvt Ltd	Manufacture and marketing of data entry terminals, ink jet printers etc.	Increase in foreign equity from 75.98% to 100%	4.51
20	M/s. Leading Edge Systems Ltd	Providing turnkey software development for the domestic market	Induction of foreign equity by way of equity swap	No fresh inflow is involved
21	M/s. Softsol India Ltd	Software development	Increase in foreign equity from 73.08% to 80.45%	5.33
22	M/s. Microchip Technology Designs (I) Pvt Ltd	Software Development	Amendment in the existing approval	No fresh inflow is involved
23	M/s. Srisoft Consultants Pvt Ltd	Software development and IT enabled services	Equity Swap	Physical inflow is only 4.77
24	M/s. Megalith Resource Centre Pvt Ltd	Software Development	Increase in foreign equity from 85% to 100%	0.0038
25	M/s. IT Microsystems India Ltd	Software Development	Increase in foreign equity from 1.79% to 2.19%	0.02
26	M/s. General Electric International Operation Co. Inc. USA	Infrastructure & IT enabled services, telecommunications and internet	100%	47.00
27	M/s. ACC Rio Tinto Explorations Ltd	Exploration of minerals	Increase in foreign equity from 56% to 62.5%	3.00
28	M/s. Entraco Metals Pvt Ltd	Cobalt Powder	40%	0.2
29	M/s. Enron Wing GmbH, Germany	Wind Energy business	100%	9.4
30	M/s. Bharti Tele Venture Ltd	Promotion of activities relating to the telecom sector	Induction of foreign collaborator	No fresh inflow is involved
31	M/s. Berjaya Vacation Club Berhad	Operate hotels and resorts, providing holiday accommodation and other tourism related services	100%	70.5
32	M/s. Beverly Hotels Pvt Ltd	Construction of a Three Star Hotel	99.99%	2.49
33	M/s. Magnum Papers Ltd	Manufacture of speciality paper, filter paper and blue match paper	Amendment in the existing FC approval	No fresh inflow is involved
34	M/s. Wadpack Ltd	Manufacture of corrugated paper board/fibre board & boxes	Extension of validity of FC approval	No fresh inflow is involved
35	M/s. Mathu Newsprint Ltd	Production of of News print	amendment in the existing approval	No fresh inflow is involved
36	M/s. Flowserve India Controls Pvt Ltd (M/s. Valtek International Pvt Ltd	Manufacture of industrial control valves	Increase in foreign equity from 95% to 100%	0.86
37	M/s. Recording Architecture Ltd, UK	Consultancy in the field of architecture, acoustic and interior design	100%	0.32
38	M/s. Indian Infrastructure Equipments Ltd	Providing Infrastructure equipment service	49.8% - 24.91 FCCBs - 97.29	122.2
39	M/s. Spiderplow India Pvt Ltd	Leasing/hiring cable laying machinery to various Indian contractors	100%	0.25
40	M/s. OEN India Ltd	Manufacture of Electronics Goods	Increase in foreign equity from 3.85% to 4.33%	0.026
41	M/s. Select Multirock Pte Ltd	Export of Granite blocks	Increase in foreign equity from 69.96% to 100%	0.05
42	M/s. Macksons Paints Industries, Sri Lanka	Manufacture of all types of decorative paints, varnishes, & primers for automobile industry	100%	2.00
43.	M/s. Orbit e-Consulting Pvt Ltd	Software Development	Increase in foreign equity from 49.77% to 84.48%	1.7
44.	M/s. Compaq Computer (Mauritius), Mauritius	Investment in e-commerce related activities	7.88%	18.5