Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)

***

Udyog Bhavan, New Delhi-110 011
Dated, the 19th October, 2000.

 

PRESS RELEASE

 

         On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 37 Cases of Foreign Direct Investment of about Rs. 2620.00 Crore. The proposals cover various sectors like agriculture, bio-technology, machine tools, software development, internet related services, tourism, textiles, portfolio management advice & services, educational and entertainment software, investment in software units under STP scheme, business management & consultancy and Telecommunication services, A list of proposals cleared is enclosed.

 

( M.S. SRINIVASAN )
Joint Secretary to the Government of India

 

 

 

FIPB MEETING HELD ON 09.10.2000

(No.33/2000)

 

Sl. No.

Name of the Company &

Regn. No.

Activity

Percentage of FDI/NRI investment

Amount of FDI/NRI inflow

(Rs. in crore)

 

01.

M/s. IMV India Pvt Ltd

 

Mfg. Assembling, importing etc. and support of research and development in the veterinary products and equipments

Amendment in the existing FC approval

No fresh inflow involved

02.

M/s.Eagle Agro Farms Pvt Ltd

 

Business of poultry products including commercial chicks, hatching eggs & dressed chicken

28.57%

9.00

 

03.

M/s. Seagram India Ltd

 

Mfr. of non molasses based spirit mfg/blending facility

Amendment in the existing FC approval

No fresh inflow involved

 

04.

M/s. Quantum Advisors Pvt Ltd

 

Portfolio management advice and services

50.49%

0.96 and CP Shares worth Rs. 132.00 crore

05.

M/s. ABB Holdings (South Asia) Ltd

 

To act as a holding company for ABB=s Investment to coordinate management and administration

Amendment in the existing FC approval

No fresh inflow involved

06.

M/s. Development - Credit Bank Ltd

 

Banking, Merchant Banking, International Banking, Offshore finance

Increase from 15.51% to 37.50%

6.36

 

07.

M/s. Afro Asian Development Consortium Inc.

 

Providing High-tech clean environmental technologies for various industries

Amendment in the existing approval

No fresh inflow involved

 

08.

M/s. McDonald=s India Pvt Ltd

 

Setting up of Mc Donald=s restaurants

Amendment in the existing FC approval

No fresh inflow involved

09.

M/s. Guanguan Marine Products Pvt Ltd

 

Fishing activities

100%

0.01

10.

M/s. Asia Pacific Exports Ltd

 

Poultry and other slautering preparation and frozen and value added products

100%

( Issue of preference shares)

106.00

 

11.

M/s. Honda Siel Car India Ltd

 

Manufacture of Motor Cars

Increase form 90% to 99%

14.40

12.

M/s. Motor Industries Co. Ltd

 

Mfr. of diesel fuel injection equipment, spark plug etc.

Increase in foreign equity from 54% to 57% by way of buy-back

No fresh inflow involved

13.

M/s. Demag Ergotech GmbH, Germany

 

Mfr, Mktg. And sale of injection moulding machines

50%

6.909

14.

M/s. Alstom Instrument Transformers Pvt Ltd, France

 

Mfg. Of current transformer, capacity voltage transformer, air core reactor etc.

100%

15.0

 

15.

M/s. Euro RSCG Advertising Pvt Ltd

 

Providing entire range of communication services

Downstream investment by way of acquisition

No fresh inflow involved

16.

M/s. South Asia Software Experts Ltd

 

activities relating to educational and entertainment software

Amendment in the existing FC approval

No fresh inflow involved

17.

M/s. Zen Communications Pvt Ltd

Advertising and publicity

Increase from 60% to 64.666%

0.56

18.

M/s. Percept Communications Pvt Ltd

Media buying, planning, strategy and consultancy

51%

0.51

 

19.

M/s. HCL Technologies Ltd

 

investment in software units under STP scheme

Issue of ADR

2250.00

20.

M/s. PA Overseas Holdings Ltd

Business and management consultancy

Amendment in the existing FC approval

No fresh inflow involved

21.

M/s. Pixel Infotek Pvt Ltd

 

Development of Computer Software

40%

0.28

22.

M/s. I-Quest Corporation Ltd, Hong Kong

 

In-house internet support management services etc.

100%

0.23

23.

M/s. Ajuba Solutions (India) Pvt Ltd

 

Call Centre activities, Software Development Activities

100%

1.44

24.

M/s. Eximsoft Technologies

 

Software Development

50%

0.008 and issue of preference shares worth 0.66 crore

 

25.

M/s. BHP Khanij Anveshena Pvt Ltd

 

prospecting and exploration of minerals

Expansion of activities

No fresh inflow involved

 

26.

M/s. Royal Dutch Shell Group of Companies, UK

 

establishing and operating an LNG import and re-gasification terminal

Amendment in the existing FC approval

No fresh inflow involved

27.

M/s. J.P. Kenny Pty Ltd, Australia

 

Engineering consultancy and project management services to the Oil and Gas industry

50%

0.40

 

28

M/s. Konaseema EPS Oakwell Power Ltd

 

To build, own and operate two barge mounted power plants

Amendment in the existing FC approval

No fresh inflow involved

 

29.

M/s. Egain Communications Corp., USA

 

Providing integrated, multi-channel e-customer communications solutions

Equity Swap

No physical inflow is involved.

30.

M/s. Pascific Netinvest Pvt Ltd

 

Telecommunica-tion Services

49%

38.31

31.

M/s. Carlyle Asia Investment Advisors Ltd, Hong Kong

Providing consultancy services including investment advisory, investment management etc. in relation to IT, telecom, internet and Software industry

100%

4.50

 

32.

M/s. Berry Mills Pvt Ltd

Import, export, buy, sell, re-sell and deal in all kinds of Handicrafts, Furniture, Textiles, Finished or semi-finished products

100%

0.10

 

33.

M/s. Casto Travel, Inc., USA

 

Travel agency business through Internet and travel-related services to international airlines and other travel portals

100%

11.37

 

34.

M/s. Appu Hotels Ltd

Construction of a Five Star Deluxe Hotel

Increase from 83.62% to 84.70%

4.00

 

35.

M/s. JMS Detailing Pvt Ltd

preparation of detail shop drawings for fabrication of structural steel members to be used in construction projects

Increase in equity from 80% to 100%

0.31

36.

M/s. Zakiya Atlantic Export

 

Mfg. Wooden items

50%

15.

37.

M/s. Atelier De Realisation Mecanique (Arm) S.A., France

 

Mfr of precision components and accessories for medical and Spl. equipment

50%

2.80