Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi – 110 011
Dated, the 18th May, 2001.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 47 proposals of Foreign Director Investment amounting to around Rs. 6020.00 Cr. The major investment proposals pertain to petroleum refinery, banking, software development, computer hardware, engineering activities and infrastructure projects. A list of proposals cleared is enclosed.
(M. S. SRINIVASAN)
Joint Secretary to the Govt. of India
FIPB MEETING HELD ON 10.05.2001
(No.14/2001)
| S.No. | Name of the Company and Registration Number |
Activity |
Percentage of FDI/NRI investment | Amount of FDI/NRI (Rs.in crores) |
| 1 | M/s. Saeplast India Pvt Ltd | Mfr rotational moulded products for transportation | Increase in equity from 69% to 79% | Net inflow Rs.0.18 |
| 2 | M/s. Coronet Products Pvt Ltd | Mfr of synthetic or monofilament yarn, plastic products, toothbruses & paint brushes | 51% | 2.55 |
| 3 | M/s.Sanofi-synthelabo India Liaison Office |
Pharmaceuticals products | Increase in foreign equity from 50% to 100% | 1.50 |
| 4 | M/s. S-Net Freight India Pvt Ltd | Multi modal transportation services, international freight forwarding | Increase in equity from 77% to 100% by restructuring | No additional inflow |
| 5 | M/s. Prym Fashion GmbH, Germany |
Wholesale trading in fasteners & other metal accessories | 100% | 0.47 over a period of 5 years |
| 6 | M/s. Alltech Inc., USA |
Development, mfr, application, support, mktg & trading of products in Biotechnology field | 100% | 0.70 |
| 7 | M/s. Erhardt + Leimer (India) Ltd | Development of various digital based systems | 0.3% | 0.006 |
| 8 | M/s. HDFC Bank Ltd |
Banking operations | Issue of ADR/GDR issue | 823.00 |
| 9 | M/s. ABB Holdings (South Asia) Ltd |
Investment holding company | Increase in foreign equity from 51% to 100% | 4.13
|
| 10 | M/s. Rediff Communications Ltd | Software development, computer consultancy | Permission for ADR linked stock option | No inflow involved |
| 11 | M/s. Credit Information Bureau (India) Ltd | Providing credit information & risk analysis services in the Indian banking & financial sector | 10% | 2.50 |
| 12 | M/s. Sona Investment Ltd |
Investment in shares/securities of auto components manufacturing bodies corporate | 30% | 18.80 |
| 13 | M/s. Neocity Technologies Pvt Ltd | Software development | ----- | Technical collaboration |
| 14 | M/s. Shivashakti Sugars Ltd | Set up a sugar mill and cogeneration power project | 39.55% | 13.95 |
| 15 | M/s. Stern Stewart India Pvt Ltd | Providing advisory services | Deletion of special condition | ---- |
| 16 | M/s. Rane LuK Clutch Ltd |
Auto spare parts | Increase in foreign equity from 50% to 100% | 21.00 |
| 17 | M/s. Konko Electronics (I) Ltd | Manufacture of electronic goods such as colour/ black & white TV, computers, consumer electronic and other related home appliances | Amendment in the existing FC approval | No fresh inflow is involved |
| 18 | M/s. Mascon Global Ltd | Software consultancy | Restructuring of equity | No inflow involved |
| 19 | M/s. Regus Business Centre BV Netherlands | Establish a WOS to set up business centres | Extension to the validity of FC approval | No inflow |
| 20 | M/s. Bird View India Pvt Ltd |
Development of systems software | Increase in equity from 99.7% to 100% | Negligible amount |
| 21 | M/s. Ritu Nanda Information Technology Services Pvt Ltd | Information technology (e-Marketplace) | 10% | 2.00 |
| 22 | M/s. Moschip Semiconductor Technology Ltd | Manufacture of Computers chips/ semiconductors | 44.23% | 30.80 |
| 23 | M/s. Global Infosoft Ltd | Software development | ------ | ----- |
| 24 | M/s. Tri Online Ltd | It enabled services- call centre | 35% | 1.92 |
| 25 | M/s. Reliance Petroleum Ltd | Setting up of petroleum refinery project | Issue of GDRs | 5000.00 |
| 26 | M/s. Hinduja National Power Corporation Ltd | Setting up of power plant | Amendment in the existing FC approval | No fresh inflow is involved |
| 27 | M/s. Lanco Kondapalli Power Ltd. | Establishment of Naptha based power plant | Amendment in the existing FC approval | No fresh inflow is involved |
| 28 | M/s. Daewoo Power India Ltd | Setting up of thermal power plant based on Naphtha fuel | Amendment in the existing FC approval | No fresh inflow is involved |
| 29 | M/s. Global Hero Company Ltd | Multinational transportation services, international freight forwarding logistics, warehousing etc | 100% | 9.4 |
| 30 | M/s. Global Telesystems Ltd | Setting up of infrastructure for value added services | Amendment in the existing FC approval | No fresh inflow is involved |
| 31 | M/s. Casio India Co Ltd | Mfr & market Radio pagers | Transfer of 3% FE to another FC in a 100% FE company | Fresh inflow 9.40 |
| 32 | M/s. Telephone Information Services India Pvt Ltd | Telemarketing and telephone information services | Transfer of FE to another individual foreign investor | No inflow envisaged |
| 33 | M/s. Coats Viyella India Ltd (Now M/s. Madura Coats Ltd) | Mfr & distribution of thread apparel facrics & industrial textiles | Increase in equity from 51.64% to 74% by way of buyback of shares | No inflow involved |
| 34 | M/s. ICS Club Marketing India pvt Ltd | Business of hotel and tourism industry | 100% | 0.25 |
| 35 | Ms. Florence Claude Levasseur, France | Transport of tourists | 100% | 0.25 |
| 36 | M/s. Rieter India Pvt Ltd | Sales, installation, after sales services, repair of electronics components | Amendment in the existing FC approval | No fresh inflow is involved |
| 37 | M/s. Mahindra Realty & Infrastructure Developers Ltd | Infrastructure projects like roads, highways, bridges, airports, rail, bus & truck terminals etc. | 20% | 46.00 |
| 38 | M/s. Shimadzu (Asia Pacific) Pte Ltd | To develop and export software for the medical and scientific equipment in India | Amendment in the existing FC approval | Nor fresh inflow is involved |
| 39 | M/s. BorgWarner Cooling Systems Inc., USA | Manufacture and sale of automotive viscous fan drives and fans for use on commercial vehicles etc. | 100% | 0.10 |
| 40 | M/s. Float Glass India Ltd | Manufacture of float glass | Permission for technical payments | ----- |
| 41 | M/s. KPMG | Management consultancy services | Addition of activities | No inflow involved |
| 42 | M/s. MDP Consultants Pvt Ltd | Consultancy services | Increase in equity from 74% to 90% | 0.19 |
| 43 | M/s. Feedback HSS Integrated Pvt Ltd | Infrastructure consulting design and engineering | Extention in validity of FC approval | No inflow involved |
| 44 | M/s. DMG Deckel Maho Gildemeister (I) Pvt Ltd | Comprehensive technical services | Permission to supply hi-tech machines | No inflow involved |
| 45 | M/s. Fleetguard Inc., USA |
Engineering & technical consultancy services | 100% | 1.18 over a perior of 7 to 10 years |
| 46 | M/s. Apagu Trading |
Export of leather, textile & garnet handicrafts | 100% | 1.15 |
| 47 | M/s. General Labels & Labelling (M) SDN BHD, Malaysia | Mfr of preprinted paper and film based self-adhesive & security labels | 100% | 28.00 |