Government of India
***
Udyog Bhavan, New Delhi -110 011PRESS RELEASE
On the recommendations of the Foreign Investment Promotion
Board (FIPB), Commerce & Industry Minister, Shri Arun Shourie has approved 20
proposals of Foreign Direct Investment amounting to around Rs. 153.00 crore. The major
investment proposals pertain to manufacture of automobile components, manufacture of
textile machinery and spinning ring frames , manufacture of construction and material
holding machinery, Tourism and software development. A list of proposals cleared is
enclosed.
( Pramila Raghavendran )
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 28.11.2002
| S.No. | Name & Address of the existing/proposed 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 | Sumitomo Chemical Company Limited, Tokyo, Japan | M/s. Sumitomo Chemical India Pvt
Ltd C/o. S.R. Batliboi & Co IInd floor, The Capital Court LSC Phase III, Olof Palme Marg, Munirka, New Delhi |
Permission for cash & carry wholesale trading | Gujarat | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 2 | Pliva Farmac Ind D.D. Ulica grada Vukovara 49 10000 Zagreb, Croatia |
Pliva Research (India) Private
Limited 202, Kasturi Towers, 238-A, L.B.S. Marg, Thane, Maharashtra |
R&D activity in pharmaceutical formulation, drug delivery system and process development and upgradation for active pharmaceutical ingredients and intermediaries etc. | Thane | Increase in foreign equity from 98.968% to 100% | 0.01 |
| 3 | William Benard Sr. P.O. Box 161027 Miami, Florida USA Abbas Rakhshani (India’s address) Post Box 101 Kodaikanal, Tamil Nadu, India |
AW Pharmaceuticals Private Ltd Post Box 111, Kodaikanal 624101 Tamil Nadu, India |
Wholesale (export) trade in medicines and chemicals | Not indicated | Increase in foreign equity from 10% to 100% | 0.009 |
| 4 | Unifrax Limited, England, UK | Unifrax Limited, C/o. Pathak & Associates Ist Floor, Dr. Gopal Das Bhavan, 28, Barakhama Road New Delhi |
Manufacture of ceramic fibre ( extension to the validity of FC approval) |
Ahmedabad | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 5 | Fin: M/s. Nestle S.A. Switzerland Tech: Nestec Ltd. Switzerland |
Nestle India Limited Nestle House Jacaranda Marg ‘M’ Block DLF City Phase II Gurgaon, Haryana |
Manufacture of food products . |
New Delhi | Amendment in the existing FC
approval ( extension of Technical collaboration agreement) |
No fresh Inflow is Involved |
| 6 | Maschinenfabrik Niehoff GmbH
& Co. Further Strasse 30 Schwabach Germany 91126 |
Niehoff of India Pvt Ltd Ist Floor, Swapnalok Complex 92-93, Sarojini Devi Road, Secunderabad |
Manufacture and assembling of cable making and wire drawing machines | Secunderabad | Increase in foreign equity from 51% to 100% | 1.50 |
| 7 | HP Chemie Pelzer Brauchstrabe 51 D-58454 Witten, Germany |
M/s. Uni Products India Ltd. HP Pelzer India (P) Ltd C-14 & 15, Sector – 57 Noida Industrial Area Noida-201 307 (UP) |
For manufacture of automobile
polyurethane parts trim parts and felt parts Except SSI Items |
Delhi | Acquisition of 97.05 lakh equity shares of Rs. 10/- each | 9.7 |
| 8 | Toyoda Automatic Loom works Ltd 2-1, Toyoda Cho Kariya shi Aichi, 448, Japan |
Kirloskar Toyoda Textile
Machinery Ltd Plot No. 1-13, Jigani Industrial Area II Phase Jigani-562106, Abekal Taluk, Distt. Bangalore Karnataka |
Manufacture of textile machinery and spinning ring frames | Bangalore | Increase in foreign equity | 31.00 |
| 9 | 1. Peyong HWA Automotive Co. Ltd 1055-Jungli-Dong Seo-ku, Jaegu City Korea 2. Component Speciality Inc USA |
Manufacture of automotive components, automobile parts and accessories, ancillary units for Hyundai Motors Ltd, Chennai | Sriperumbudur, Tamil Nadu | Acquisition of 350 shares | Negligible Amount of Inflow is involved |
|
| 10 | J.C. Bamford Excavators Limited Rocester Staffordshire ST145JP England, UK |
J.C. Bamford Excavators Ltd C/o. Escorts Limited Corporate Centre, 15/5, Mathura Road Faridabad – 121 003 Haryana |
Manufacture of construction and material holding machinery | Ballabgarh, Haryana | Increase in foreign equity from 60% to 100% | 106.00 |
| 11 | Redler Limited Dudbridge, Stroud Gloucestershire GL5 3EY United Kingdom |
100% WOS ( to be incorporated) |
Manufacture of material handling systems through local sub-contractors, consultancy & Technical services, project management services and turnkey projects, specialized after sales services | Bangalore | 100% | 0.50 |
| 12 | Air2Web Inc Promenade-II 1230, Peachtree Street, L.E. Suitu, 1600 Atlanta, GEA - 30309 USA |
Air2Web India Private Limited 4-F, P.M. Towers, 37, Greams Road Chennai-600 006 |
Software development | Chennai | Transfer of 20 equity shares of Rs. 10/- | No fresh Inflow is Involved |
| 13 | Excelacom 1601, North Kent Street, Suite 1014, Arlington VA 22209, USA Allfon LLC 2796, Glendon Avenue, Los Angeles CA 90064, USA |
Allfon systems Private Limited Ceebros Arcade, Ist floor # 1, 3rd Cross Street, Kasturibai Nagar, Adyar, Chennai |
Software Development | Chennai | 99.94% | 0.05 |
| 14 | M/s. Yodlee Inc. 3600 Bridge Parkway Suite 200 Redwood City, CA USA |
M/s. Yodlee.Com. Infotech Pvt.
Ltd Niton, B-Block, II floor, No. 11 Palace Road, Bangalore |
Development of computer software | Bangalore, Karnataka | Increase in foreign equity from 99.998% to 100% | Negligible amount of inflow is involved |
| 15 | Hosley International Trading
Corporation 20530, Stony Island Avenue, Lynwood Illinois 60411 USA |
Hosley India Pvt Ltd 835, Mahipalpur Main Vasant Kunj Road New Delhi |
Business of export trading and dealing in all kinds of handicraft items made up of iron, brass, wrought iron, glass and similar materials | Mahipalpur, New Delhi |
Increase in foreign equity from 90% to 100% | 0.10 |
| 16 | M/s. Bala & Kantilal
Management Int’l Pte Ltd, 20, Bideford Road, 15-06, Wellington Building, Singapore |
M/s. Anne Pinkerlon (I) Pvt Ltd P-4/90 Ist Floor, Connaught Place, New Delhi |
Tourism related industry- setting up restaurants of international class | Delhi | 50% | 0.50 |
| 17 | Subway International BV Naritaweg 165, 1043B Amserdam PO Box 7241 The Netherlands |
Subway Systems India Private
Limited Videocon Tower 12th Floor, Block E-1, Jhandewalan Extn. Rani Jhansi Marg, New Delhi |
Setting up of high class health food restaurant chains and franchisees | Not indicated | 100% | 0.05 |
| 18 | Mettler-Toledo Holding AG IM Langachar P.O. Box MT-200 CH-8606, Creifensee Switzerland |
Mettler Toledo India Private
Limited Amar Hill, Saki Vihar Road Pawai, Mumbai-72 |
Permission for cash & Carry wholesale trading | Maharashtra | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 19 | LUCA Pastorello Via Golasecca 60 Sesto Calende, V.A. Italy |
C.F. Engineering K-16/4, DLF Phase II Gurgaon |
Management & consultancy of turnkey projects in the field of garment industry, electronics etc. | Gurgaon | 66.66% | 0.05 |
| 20 | Truetzschler Textilmaschinen
Import +Export GmbH Duvenstrasse 82-92 41199 Monchengladbach Germany |
Trumac Engineering Co. Private
Limited A-19, CTS No. 689 Veera Desai Road, Andheri(West), Mumbai |
Manufacturing of textile machinery | Ahmedabad | Increase in foreign equity from 69.39% to 73.94% | 2.35 |