Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 6th June 2001.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 29 proposals of Foreign Direct Investment amounting to around Rs. 588.00 Crore. The major investment proposals pertain to automobiles and automobile accessories, chemicals, LNG terminal. A list of proposals cleared is enclosed.
(M. S. SRINIVASAN)
Joint Secretary to the Govt. of India
FIPB MEETING ON 17.05.2001
(No.15/2001)
| S.No. | Name of the Company | Activity | Percentage of FDI/NRI investment | Amount of FDI/NRI (Rs.in crores) |
| 1 | M/s. Akzo Nobel Chemicals International B.V. | Manufacture of polymerisation initiators | Increase in foreign equity from 74.98% to 100% | 24.52 |
| 2 | M/s. E.I. Dupont India Ltd | Manufacture of Engineering polymers | Expansion of Activity | No fresh inflow |
| 3 | M/s. Max Atotech Ltd | Manufacture and marketing of speciality chemicals | Increase in foreign equity from 50% to 100% | Inflow 13.63 including premium |
| 4 | M/s. Avanti Laboratories Pvt Ltd | Manufacture of hydroxyapatite tricalcium phosphate | Extension the the validity of FC approval | No inflow |
| 5 | M/s. Dabon International Ltd | Expansion of activities to new product Cheese & milk category | Amendment in the existing FC approval | No fresh inflow is involved |
| 6 | M/s. Hongo India Pvt Ltd | Manufacture of automotive components | Permission for test marketing | No fresh inflow is involved |
| 7 | M/s. Escorts Yamaha Motor Co Ltd | Manufacture of motor cycle | Acquisition of 26% equity from Indian partner | Additional inflow 120.00 |
| 8 | M/s. Morirko Co Ltd | Manufacture of plastic components for automobile industry | Extension for temporary increase in foreign equity | No fresh inflow |
| 9 | M/s. Broadcast Worldwide Ltd | Re-transmitting & broadcasting TV channels | 3.25% | 3.67 |
| 10 | M/s. WPI International (I) Pvt Ltd | Promotion of semi-conductor products from international semiconductor manufacturers to the Indian electronics industry | 55% | 0.07 |
| 11 | M/s. Ind-Telesoft Pvt Ltd | Software development | Amendment in the existing approval | No fresh inflow is involved |
| 12 | M/s. Advanced Training Institute for Information Technology Pvt Ltd | Asic and network stimulation, education, training, consultancy software, development | 85% to 95% | 8.00 |
| 13 | M/s. OneRev Information Technologies (India) Pvt Ltd | Software development | 99% | 1.00 |
| 14 | M/s. eSamsung UMIT Infotech Pvt Ltd | Software development services | 0.3% | 0.01 |
| 15 | M/s. Ensim India Pvt Ltd | Software development & consultancy services | ----- | Negligible |
| 16 | M/s. Infinit Computer Solutions India Pvt. Ltd | Software development | 99.95% | 0.43 |
| 17 | M/s. Shell India Ltd | LNG import & re-gasification terminal | ----- | Proposed additional inflow 332.00 |
| 18 | M/s. Mangalore Power Company | Operate pulverized coal fired power station | Extension to the validity of FC approval | No inflow |
| 19 | M/s. Smith Cogeneration India (P) Ltd | 170MW combined cycle combustion turbine plant | Extension to the validity of FC approval | No inflow |
| 20 | M/s. Arraycomm, Inc., USA | Manufacture of wireless local loop (WLL) systems | 51% | 0.24 |
| 21 | M/s. Band-X (India) Pvt Ltd | Network exchange & recruitment services | Expansion of activities | No additional inflow |
| 22 | M/s. Idex India Pvt Ltd | Mfr. Of pump products, dispensing equipment and other engineering products | Increase in equity upto 100% | 0.01 |
| 23 | M/s. Float Glass India Ltd | Manufacture of float glass | Increase in foreign equity from 49% to 75% | 26.29 |
| 24 | M/s. Sanvik AB | Manufacture of metal working tools, rock drilling tools and wear parts | Increase in foreign equity from 73.22% to 100% | 6.30 |
| 25 | M/s. Bhagwati Designs Pvt Ltd | Consulting engineers | 100% | 3.76 |
| 26 | M/s. More Group (I) Pvt Ltd
|
Advertising through street furniture | Increase in foreign equity from 94.45% to 97.06% | 9.60 |
| 27 | M/s. Eagle Building Technologies Pvt Ltd | Mfr & sale of IMSI wall systems | 100% | 1.00 |
| 28 | M/s. Piaggio & C SpA, Italy | Mfr of three wheelers, motor-cars and moter vehicles | Increase from 36% to 85% | 16.66 |
| 29. | Note reg. M/s. Clan Morgan | Blending and bottling of superior quality scotch whisky and superior blended whisky | Increase in foreign equity from 50% to 74% by way of acquisition of 24% NRI share holding | 20.70 |