Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
Udyog Bhavan, New Delhi-110 011
Dated, the 5th March, 2002.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 38 proposals of Foreign Direct Investment amounting to around Rs. 940.00 Crore. The major investment proposals pertain to sectors such as bio-technology, chemicals & petro-chemicals, communications, consumer items, automobiles, light engineering components, information technology, software development, consultancy and NBFC activities. A list of proposals cleared is enclosed.
( Pramila Raghavendran )
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 21.02.2002
| 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 crores) |
| 1 | India Seed Holdings Ltd 10, Frere Felix, de Velouis Port Louis, Mauritius |
100%subsidiary C/o.V.R. Kaundinya Mahendra Hybrid Seeds Co. Ltd 5-5-685/A, Ghoshamahal, Hyderabad |
developing, production, processing and marketing of hybrid seeds | Mumbai | 100% | 43.20 |
| 2 | NAJETI, CHEMINDES BOIS ACOIN WEST BE COURT 62380 LUMBRES, FRANCE |
Eagle Agro Farms Pvt Ltd Eagle Estate Talegaon - 410 507 Pune, Maharashtra |
Breeding of broiler and selling of various poultry products including commercial chicks, hatching eggs and dressed chicken | Talegaon, Maharashtra | Increase in foreign equity from 44.44% to 50% | 0.50 |
| 3 | Bush Boake Allen Ltd, UK | M/s. Bush Boake Allen (India) Limited 1-5, Seven Well Street St. Thomas Mount Chennai |
Manufacture of vanilla (Flavour), Oils and Oleoresins etc. | Not indicated | Increase in foreign equity from 75.05% to 98% by way of buy-back | No fresh inflow is involved |
| 4 | Ali Teheriyan C/o. M/s. Hakimiye Cartons Mfg. Co. Pvt. Ltd. Jaddeh Aabali, Infront of Khabane Ethhad Building No. 257 Tehran - Iran |
Sole Proprietory ship firm | Operating Iranian food restaurants | Pune, Maharashtra | 100% | 0.47 |
| 5 | M/s. ALLTECH INC, USA 3031, Catnip Hill Pike Nicholasville, Kentucky - 40356, USA |
ALLTECH INC. USA C/o. Kainth & Associates 519, 11th Main, 4th Cross, HAL Second Stage Bangalore |
Manufacture and marketing of products in the field of biotechnology for livestock, poultry, equine, ruminant, dairy, aqua and pet industry | Bangalore | Acquisition of shares from Subscribers to the Memorandum and reduction in the paid up capital | No fresh inflow is involved |
| 6 | M/s. ABBOTT LABORATORIES 100 Abbott Park Road Abbott Park, IL 60064-3500 USA |
M/s. Abbott Laboratories India Pvt Ltd, Jehangir Building 133, M.G. Road, Mumbai - 400 001 |
Manufacture and selling bulk drugs and pharmaceutical products | New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 7 | Kyndal Spirits Ltd Dalmore House 310 Vincent Street, Glassgow G25RG Scotland |
100% WOS C/o Price Waterhouse Sucheta Bhawan (Gate No. 2 II nd Floor) 11-A, Vishnu Digamber Marg, N.Delhi-2 |
Bulk imports and ex-bonded warehouse sales | Mumbai | 100% | 4.70 |
| 8 | Mr. Subramanium V. Iyer, P.O. Box. 13897 Dubai, UAE |
M/s. Mahmayi Office Furniture LIC 601 Residency 3,4,5 Sardar Patel Road Chennai |
Import and trading in office furniture, home furniture and electrical lighting | Chennai | Increase in foreign equity from 50% to 100% | 0.45 |
| 9 | Cooperatieve Centrale Raiffeisen Boerenleebank B.A Netherlands |
Rabo India Finance Limited 1-A, Janpath, New Delhi |
NBFC activities | Not indicated | Increase in foreign equity from 75% to 100% | 151.56 |
| 10 | View Asset Management Ltd, Mauritius Hewitt Associates LLC, Mauritius |
India Life Asset Management Co.
Ltd 214, Dalamal Towers Nariman Point, Mumbai |
NBFC activities | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved |
| 11 | M/s. Screiber International Inc Creig Newman, Schreiber International Inc PO Box 19010 Green Bay WI 54307-9010 Grie Food International 401 Seventh Avenue PO Box 648, Erie Illinois 61250 USA |
Dynamic Dairy Industries Conwood House Yashodham Goregaon (E) Mumbai -400 063 |
Manufacture of sodium caseinate and calcium caseinate | Baramati, Maharashtra | Increase in foreign equity from 10.36% to 21.36% | 5.83 |
| 12 | Fonterra Cooperative Group Ltd and/or its group company, New Zealand | Britannia Industries Ltd, Executive Office Britannia Gardens, Airport Road Vimanapura, Bangalore |
Undertake activities relating to dairy products and sale of milk products etc. | Bangalore | Amendment in the existing FC approval | No fresh inflow is involved |
| 13 | General Motor Corporation, USA (Fin.) Adam Opel AG( Tech.) |
General Motors India Private Limited Ground Floor, VIPPS Centre 2 LSE, Masjid Moth Greater Kailash 2 New Delhi |
Manufacture, mktg of cars and
commercial vehicles and other incidental activities like after sale support and supply of
spare parts to the customers of passenger cards, utility vehicles/ commercial vehicles |
Halol, Gujarat | Increase in Authorised Capital Equity: Rs. 400 Cr Preference capital: Rs. 200 cr |
600.00 |
| 14 | Volvo Truck Corporation S-405 08 Goteborg, Sweden |
Volvo India Pvt. Ltd. C/o. Price Waterhouse & Co Sucheta Bhavan, 2nd Floor, 11-A, Vishu Digambar Marg, New Delhi |
Mfr. and Mktg. Vehicles, trucks,
busses, cards, construction equipment, engines for marine and industrial and agricultural
appns and business in management consulting and advisory services of all types etc. |
New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 15 | Hawe Holding HmbH, Streitfeldstr 25 D-81673, Munchen Germany |
Hawe Hydraulics Private Limited Flat No. 18, Ist Floor 239, SNS Chambers Sankey Road, Sadashivnaga Bangalore |
Manufacture, design, undertaking quality management, servicing and trading of products in the field of high quality oil hydraulics components & Systems | Bangalore | Transfer of 1000 shares from subscribers to the Memorandum | 0.01 |
| 16 | Renaissance Herbs, Inc 9588, Topanga Canyon, BLVD Chatsworth CA 91311, USA |
Dhanvantari Botanicals Pvt ltd # 430/A, 10th Cross, 21st Main, J.P. Nagar 2nd Phase, Bangalore |
Manufacture and dealings in botanical goods or its extracts/derivatives from all types of herbal and fruits etc. | Hosur, Karnataka | Conversion of Rs. 10 million into equity | 1.00 |
| 17 | Reed Elsevier Overseas BV, The Netherlands | Redd Elsevir India Pvt. Ltd. 14th Floor, Vijaya Bldg, 17, Barakhamba Road, New Delhi - 1
|
Production of trade and industry directory, advisory and consultancy expertise on various aspects of publishing, electronic delivery and information etc, | New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 18 | Euro RSCG International SA (Havas Advertising International SA) 84 Rue De Villiers 92693 Levallois-Perret Cedex |
Euro RSCG Advertising Pvt. Ltd. C/o. Arthur Anderson 19th Floor, Express Tower Nariman Point Mumbai |
providing entire range of communication services including advertising, media planning/buying etc. | Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 19 | MFS Globenet Inc 9 East Loockerman Street, Dover, Delaware 19901 USA ( SIA No. FC.II:25/2000) |
MCI Worldcom India Pvt. Ltd. Radisson Commercial Plaza A-wing, 2nd Floor National Highway 8 New Delhi 110 037 |
providing wide range of data networking products, solutions and support services | New Delhi | Amendment in the existing FC approval | No fresh inflow is involved |
| 20 | Hibbittkarlsson & Sorenson Inc 1080, Main Street, Pawtucket, RI 02860, USA |
Abacus Engineering Analysis
Solutions Pvt. Ltd 3M Prince Arcade 22A Cathedral Road Chennai |
Extension of Test marketing of Software products manufactured by the company in India | Chennai | Amendment in the existing FC approval | No fresh inflow is involved |
| 21 | Xius Technologies Ltd 3rd Floor, Les Cascades Edith Cavell Street, Port Louis, Mauritius |
Xius India Ltd. ZIP Villa, Recondo Estate S.K. Ahire Marg, Worli, Mumbai |
Development of computer software and computer consultancy and software supply services | Mumbai | Equity swap | No fresh inflow is involved |
| 22 | M/s Venenburg Facilities BV The Netherlands |
M/s. Vanenburg IT Park Pvt. Ltd. Plot # 17, Software Units Layout Madhapur, Cyberabad Hyderabad |
Software development under ST P Scheme | Hyderabad | Aditional activities | 10.00 |
| 23 | M/s. Solutions Inc 805, Third Avenue, 11th Floor New York NY 10022, USA |
M/s. Solutions Inforstystems Pvt.
Ltd. A-26/1, Mohan Co-op Indl. Estate, New Delhi |
Computer Software Development | New Delhi | 100% | 0.43 |
| 24 | Camdon Atlantic Ltd, Bond Pearce, Town Quay House No. 7, Town Quay, Southamton-S014-2PT, UK & M. Muni Sekar & Family #3025, Canoas Creek Ct, San Jose, CA 95136 |
Dheeru power & Projects (P)
Ltd Flat No. 110, Amrutha Ville Rajbhavan Road, Hyderabad |
setting up of biomass based power project | Nittur Village, Tumkur Distt. Karnataka |
74% | 4.80 |
| 25 | Shiv Calor Asia BV Rijnkade 1, 3511 LC Utrecht PO Box No 2065, 3500 GB Utrecht The Netherlands |
M/s. SHV Energy India Pvt. Ltd. Super Gas House, 4th Floor, Sde Serene Chambers, 8-2-334 Road No. 7, Banjara Hills, Hyderabad |
import, bottling and distribution of liquified gas | Haldia, West Bengal | 100% | 0.45 |
| 26 | Waterford Instutute Inc 1590 East 9400 South Sandy, Utah 84093 USA
|
Waterford Institute India 5B Pasayadan TMC Road Panchpakhdadi Thane(W) Mr. Nitin Phadnis 603 Santoor, Lok Puram, Off. Pokharan Road No. 2 Thane (w) Mr. Mohammad Aslam 6B Holy Eden Woods Off Pokharan Road No. 2 Thane |
Undertake scientific, literacy and educational activities and projects for development of education software for similar institutes | Thane | Transfer of 99.9% shares | 0.5 |
| 27 | Motorola Singapore Pte Ltd # 35-00 Shaw Towers 100 Beach Road, Singapore |
M/s. Motorola India Ltd 415/2, Mehrauli Gurgaon Road Sector 14, Gurgaon Haryana |
Manufacturing of pagers and designing and development of systems and application software | Delhi | Issue of shares to foreign collaborator on amalgamation of two companies | No fresh inflow is involved |
| 28 | 1) Mr. Shirish G. Patel, NRI(USA) 2) M/s. Subway International BV(Doctor’s Associates Inc, USA) |
M/s. Parthiv Kastia, 34, New Mnicipal Karamachari
Nagar, Sola Road Ahmedabad-380061 |
Establishment of subway franchise restaurant | Ahmedabad | Amendment in the existing approval | No fresh inflow is involved |
| 29 | Sunway Construction Berhad Level 8, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia |
Sunway Construction India Private
Limited Mrurdeshwar Bhavan, 604/B, Gokul Road, Hubli 580030 Karnataka ( SIA No. 03/2002-FC.I) |
construction and maintenance of buildings, roads and carry on business as contractors and consultants | Hubli, Karnataka | 100% | 0.47 |
| 30 | Grundfos Holding AG Baarestrasse 59 CH 6300 ZUG- Switzerland |
Grundfos Pumps India Pvt. Ltd. Ground Floor, Flat A 61/62, Chamiers Apt Chamiers Road Chennai |
Extension of test marketing for the manufacture of high quality pumps, pumping systems and components thereof | Chennai | Amendment in the existing FC approval | No fresh inflow is involved |
| 31 | Timex Watches BV Koningslaan 34 1075, AD Amsterdam The Netherlands |
Timex Watches Ltd 701, Ansal Bhawan 16, K.G. Marg, New Delhi |
manufacture of watches | Noida, G.B. Nagar, UP | Increase in foreign equity from 79.47% to 83.54% | 20.00 |
| 32 | Matushita Electronic Industrial Co. Ltd Oska Central 288 Osaka 530 91 Japan |
Matsushita Air-Conditioning India
Pvt Ltd A-11 & 12, SIPCOT Industrial park, Irungattukottal Sriperumbudhur Taluk Kancheepuram Distt Tamil nadu |
Manufacture of air conditioners | Kancheepuram distt, Tamil nadu | Increase in foreign equity from 70% to 90% | 72.50 |
| 33 | M/s. Alghaniam (Mauritius) Ltd, Louis Leconte Street Curepipe, Mauritius |
Rockwool India Ltd 502, Lingapur House Himayath Nagar Hyderabad |
manufacture of superior quality thermal insulation wool, namely rockwool | Zaheerabad | Increase in foreign equity from 74% to 77.7% | 8.13 |
| 34 | WELLA AG AKTENGESELLSEHAFT BERLINER ALLEE 65 GERMANY |
M/s. European Haiircosmetics
(India) Pvt Ltd Filmcentre Bldg, Ist Floor, 68 Tardeo Road Mumbai |
imparting specialised training in the art of hair styling and to develop the trade in hair care products in India | Mumbai | Increase in foreign equity from 74% to 100% | 5.91 |
| 35 | Jones Lang Lasalle Internatinal
Inc (through M/s. Lasalle Partners (Mauritius) Pvt. Ltd P.O. Box 1130 12, Remi Ollier Street, Port Louis, Mauritius |
Lasalle Partners (India) Pvt Ltd Level 6 Merchantile House 15, KG Marg New Delhi |
real estate consultancy | New Delhi | Conversion of loan into equity | 4.74 |
| 36 | Dresdner Kleinwort Capital Ventures Management
Ltd Riverbank Hose 2, Swan Lane, London, UK |
Dresdner Kleinwort Benson Advisory
Services (India) Private Limited 1305, 13th Upper Floor Raheja Towers, East Wing, 26-27, M.G. Road Bangalore |
providing consultancy and advisory services on all aspects of business, commercial and industrial activities especially financial, investment tech etc. | Bangalore | Transfer of 10 equity shares of Rs. 10/- | No fresh inflow is involved |
| 37 | Daido Metal Co Ltd 2, Sanage CHO, Kitaku Nagoya, Japan |
BBL Daido Private Ltd 861, Anna Salai Chennai |
manufacture of steel back polymer dry bearings, bushes and washers | Chengleput, Tamil Nadu | 40% | 4.46 |
| 38 | Packsys Global Ltd Joweid Zentrum 1 CH -8630 Ruti Switzerland |
Technology Service Centre Pvt Ltd Unit No. 2, Udyog Kshetra Link Road Mulund (West) Mumbai |
providing tech/non-tech services to customers, design and drawing office assistance to group companies | Mumbai | Transfer of shares amounting to Rs. 100/- | No fresh inflow is involved |