Government of India
Ministry of Commerce & Industry
Department of Industrial Policy & Promotion
( Foreign Collaboration Division )
***
Udyog Bhavan, New Delhi -110 011
Dated, the 16th December, 2002.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), Commerce & Industry Minister, Shri Arun Shourie has approved 23 proposals of Foreign Direct Investment amounting to around Rs. 92.00 crore. The major investment proposals pertain to manufacture of pneumatic tyres of rubber, setting up of power plant, software development, consultancy and services. A list of proposals cleared is enclosed.
( Pramila Raghavendran )
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 05.12.2002
| 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) |
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| 1 | M/s. A.M.. Todd Company | (M/s. Indomint Agari Products Pvt ltd.) A.M. Todd Company C/o. Thakker & thakker A/320, Defence Colony New Delhi-110 024 |
Manufacture market and distribute mint oil and value added products, organic fine chemicals and derivatives( deletion of export obligation condition) | Delhi | Amendment in the existing FC approval | No fresh Inflow is Involved |
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| 2 | M/s. Bala Ranjan Samuel & M/s. Freeda Jeyarohani Montanus STR 60, 41515 Green Croich Germany |
Pearlyn Exports Private Limited (Under Incorporation) No. 10, Jayammal Street, Teynampet, Chennai |
Export of food products, groceries, sea foods, silver/brass utensils, antiques, rice, wheat, readymade garments, textiles and other exportable commodities | Chennai | 100% | 0.10 | |||
| 3 | Pt Adijaya Guna Satwatama Wisma Millenia JL. MT Haryono Kav 16. 16, Jakarta 12810, Indonesia |
100% WOS | Cash and Carry wholesale trading of agricultural commodities and products, animal feed and supplements, capital equipment and spares of plant and machinery used in the poultry/dairy related industry | Pune, Maharashtra | 100% | 15.00 | |||
| 4 | Mr. Gary Seaton 95, The Inglewood, Singapore |
Mysore Agro Commodities Ltd # 571/31, 21st Main, 4th T Block, Jayanagar, Bangalore |
Importing and wholesale trading in edible oil | Bangalore | 60% | 1.20 | |||
| 5 | United Motors & Heavy Equipment Co. LLC P.O. Box 22804, Dubai, UAE |
United Motors & Heavy Equipments Private Ltd C/o. King & Partridge 48, Lavelle Road Bangalore – 4 |
Trading activities including importing, marketing and also exporting outside India construction equipment parts/spares | Bangalore | 75% | 0.375 | |||
| 6 | Truphatek Holdings (1993) Ltd, Israel Lillian Bhonkar, Israel |
M/s. TK India Pvt Ltd 346, Industrial Area, Phase-II Chandigarh-2 |
Permission for import and wholesale trading of medical devices and highly engineered parts etc. | Chandigarh | Amendment in the existing FC approval | No fresh Inflow is Involved |
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| 7 | Industrialization fund for developing
countries(IFU) Bremerholm – 4 DK-1069 Copenhagen K Denmark LM Glassfiber A/S Rolls Mollevej 1,DK-6640 Lunderskov, Denmark |
LM Glassfiber (India) Ltd 310, Raheja Acrade 1/1, Karamangala Industrial Lahout, Bangalore |
Manufacture of FRP rotor blades for wind turbine
generators (payment of lumpsum fee in addition to existing royalty) |
New Delhi | Amendment in the existing FC approval | No fresh Inflow is Involved |
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| 8 | Converge Media Inc P.O. Box 146, Road Town, Tortola British Virgin Islands |
Convergence Media Pvt Ltd Unit 124, SDF IV, Seepz, Andheri(E), Mumbai |
Carry on the business of animation | Mumbai | 100% | 0.01 | |||
| 9 | Altera Corporation 101, Innovation Drive, San Jose CA 95134, USA |
Altera Semiconductors India Private Limited 313, Prestige Centre Point, Cunningham Road, Bangalore |
Engaged in the activities of providing services regarding all kind of semi-conductor products, including programmable logic devices, software development tools and intellectual property cores for the communication, computer peripherals and industrial markets | Bangalore | Transfer of 10,000 shares of Rs. 10/- | 0.01 | |||
| 10 | M/s. Motif Inc 15271, South Grimmer Blnd, Fremont CA 94539, USA. |
M/s. Motif India Infotech Pvt Ltd IA Wall Street 2 Near Gujarat college Ahmedabad |
Data Communication, support Service (except equity other than cash) |
Ahmedabad | Increase in paid up capital | 0.56 | |||
| 11 | 1) M/s. Citicorp International Finance
Corporation, USA 2) Individual NRIs from Canada |
M/s. Kumaran Systems Pvt Ltd Tidel Parl A Block, 5th Floor North Wing, Taramani, Chennai |
Development of computer software | Chennai | Amendment in the existing approval ( Transfer of equity from foreign investor to NRI investor) |
No fresh Inflow is Involved |
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| 12 | Bio Development International Inc Three Executive Park Drive Bedford NH 03110 USA |
R.R. Bio Energies Limited Plot 39, Lane No. 1 Street No. 3 West Marredpally, Secunderabad -26 |
Setting up of 14 MW installed capacity biomass based IGCC power plant with an exportable output of 12 MW | Bangalore | 100% | 4.13 | |||
| 13 | Nokia Networks OY, Finland | M/s. Nokia India Limited 4th Floor, Commercial Plaza Radisson Complex Natinal Highway No. 8 Mahipalpur, New Delhi |
Permission for cash & carry wholesale trading | Not indicated | Amendment in the existing FC approval | No fresh Inflow is Involved |
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| 14 | Multi tech Systems Inc Minnesota, USA |
Multi Tech Computers Pvt Ltd 249-B, Udyog Vihar Phase IV, Gurgaon, |
Permission for wholesale trading | Not indicated | Amendment in the existing FC approval | No fresh Inflow is involved |
No fresh Inflow is Involved |
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| 15 | M/s. PT. Buana Mega Bimasakti 32nd Floor, Wisma 46, Kota BNI JI, Jend Sudiram Kav 1, Jakarta, Indonesia |
Universal Lifestyle Products Pvt Ltd 328/1, Safex Logistic Park, Bijwasan, New Delhi |
Cash & carry wholesale trading of sports and lifestyle products etc. | Mumbai | Transfer of 10,000 shares | 0.01 | |||
| 16 | Knight Frank & Rutley UK |
Knight Frank (India) Pvt Ltd Udyog Bhavan, Ist Floor 29, walchand Hirachand Marg, Ballard Estate Mumbai |
Providing consulting and advisory services in the field of real estate and project development support, real estate maintenance and management, research and maintenance of data base and planning, auctioneering | Not applicable | Increase in foreign equity from 33.96% to 74% | 0.96 | |||
| 17 | Holderind Investments Ltd
Port Louis, Mauritius |
Holdcem Cements Private Limited Rajendra Bhavan, 210, Deen Dayal Upadhyaya Marg, New Delhi |
Manufacture of cement in the form of clinker and portable cement etc. | New Delhi | 100% | 0.01 | |||
| 18 | Major (Retd) Brijendra Singh C/o. Manni Trading Corporation PB No 76, Doha, Qatan |
M/s. Sowar Pvt Limited LTG Building, Copernicus Marg, New Delhi |
Consultancy & Services | Delhi | Increase in foreign equity from 20.39% to 37.78% | 0.037 | |||
| 19 | Mr. Matadin Agarwalla, USA | M/s. Matu Newsprint Limited Suite # 207, 2nd Floor I British Indan Street, Kolkata |
Manufacture of Newsprint based on non-conventional raw material | Kolkata | Amendment in the existing approval | No fresh Inflow is Involved |
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| 20 | Leitz Beteiligungs BmbH Postfach 1229 73443 Oberkochen Germany |
Leitz Tooling Systems India Private Limited 22/A, Third Mian Road Ist Phase Peenva Industrial Area Bangalore |
Permission for cash and carry whole sale trading of special purpose tooling for the wood working industry | Bangalore | Amendment in the existing FC approval | No fresh Inflow is Involved |
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| 21 | M/s. Bridgestone Corporation Tokyo 104, Japan |
Bridgestone ACC India Ltd Plot No. 12, Kheda Growth Centre, Post Sagore 454774, Distt. Dhar Madhya Pradesh |
Manufacture of New pneumatic tyres of rubber | Dhar, Madhya Pradesh | Increase in foreign equity from 90% to 100% | 66.6 | |||
| 22 | Milacron Marketing Co. Ltd USA |
Ferromatix Milacron India Limited 92, Phase-I GIDC Vatva, Ahmedabad-382445 |
Manufacture of plastic machinery, injection moulding machines, blow moulding machines and extrusion machines. | Not indicated | Share swaping | No fresh Inflow is Involved |
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| 23 | Braintree Synthetic &
engineering Ltd Unit D8, Braintree Industrial Estate, Braintree Road, South Rusilip Middix – HA4 DEJ United Kingdom |
ASP Sealing Products Ltd "Anbros House" 25/31, East Patel Nagar New Delhi-110 008 |
Manufacture of EPDM Rubber Profiles/Rubber to metal bonded profiles used as components in the automobiles industry | Gajraula, UP | Conversion of loan into equity | 3.17 | |||