Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 12th September 2001.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 21 proposals of Foreign Direct Investment amounting to around Rs. 101.00 Crore. The major investment proposals pertain to manufacture of pharmaceutical products, software development, and transport and port sector. A list of proposals cleared is enclosed.
(M. S. SRINIVASAN)
Joint Secretary to the Govt. of India
| S.No. | Name of the company | Activity | Percentage of FDI/NRI investment | Amount of FDI/NRI inflow (Rs. In crores) |
| 1 | M/s. Haldia Petrochemicals Ltd |
Manufacture of Ethylene, raw pyrolysis gasoline, etc. | Amendment in the existing FC approval | No fresh inflow is involved |
| 2 | M/s. Organon Participations B.V., The Netherlands |
Manufacture and marketing of human pharmaceutical products | Increase in foreign equity from 50.43% to 100% | 85.83 |
| 3 | M/s. Amada (I) Pvt Ltd |
Establish a WOS to carry on after sales service and showroom cum training centre | Amendment in the existing FC approval | No fresh inflow is involved |
| 4 | M/s. India International Marketing Centre Ltd |
Wholesale trading | 20.03% | 2.21 |
| 5 | M/s. International HIV/AIDS Alliance | To provide technical expertise, management support and funds to Local NGOs to successfully fight AIDS | Amendment in the existing FC approval | No fresh inflow is involved |
| 6 | M/s. Toyota Kirloskar Motors Ltd | Manufacture of passenger utility vehicle | Amendment in the existing FC approval | No fresh inflow is involved |
| 7 | M/s. United Conveyer Corporation (I) Pvt Ltd | Design, manufacture and supply of ash handling equipment for fossil fired power generating units | Increase in foreign equity from 74% to 85% | 0.62 |
| 8 | M/s. Toshiba Corporation, Japan | Marketing support and consultancy services | 100% | 5.20 |
| 9 | M/s. Gemtech Solutions Pvt Ltd | Computer software development | 94.90% | 0.09 |
| 10 | M/s. AVI-Oil India Ltd | Lubricants & specially fluids pack for defence & other technical application | Amendment in the existing FC approval | No additional inflow |
| 11 | M/s. Ballast Nedam Dredging India Pvt Ltd | To undertake dredging reclamation and related activities in the fields of port, housing and infrastructure | Amendment in the existing FC approval | No fresh inflow is involved |
| 12 | M/s. Emery Worldwide (India) Pvt Ltd | Multi-Modal Transport Business | Increase in foreign equity from 80% to 100% | 2.77 |
| 13 | M/s. P&O Ports India Pvt Ltd | Consultancy for the development of port sector | Conversion of loan into equity | 4.41 |
| 14 | M/s. Forbes Sea Consortium India Ltd | Establish, acquire and operate shipping agencies, shipping
services, travel agencies and all ancillary services
|
50% | 0.10 |
| 15 | M/s. ACE Creations Pvt Ltd | Manufacturing and exporting cotton knitted hosiery garments and textile goods | 40% | 0.048 |
| 16 | M/s. Bibby International Services (India) Pvt Ltd |
Manning services ( e.g., recruitment, training and maintaining a pool of seafarers to be deployed on ships) | 100% | 0.01 |
| 17 | M/s. Mercury Goldman India Ltd |
External programme and in company programme focusing on consumer durables, capital goods and service industry | Amendment in the existing FC approval | No fresh inflow is involved |
| 18 | M/s. Magotteaux Industries Pvt Ltd |
Manufacture of castings of high crome vertical mill spares and alloy steel liners for mining. | Amendment in the existing FC approval | No fresh inflow is involved |
| 19 | M/s.ProdairCorporation |
Manufacture of filtering and purifying machinery for liquids and gases, Industrial organic and inorganic chemicals etc. | Amendment in the existing FC approval | No fresh inflow is involved |
| 20 | M/s. Price & Pierece India Pvt Ltd |
To undertake the activities of trade in imported goods and merchandise in India to carry on the business as traders and trade in paper and paper products | Amendment in the existing FC approval | No fresh inflow is involved |
| 21 | M/s. USF Asia Group Ltd., Hong Kong |
Freight forwarding and logistic services | Increase in foreign equity from 51% to 100% | 0.10 |