Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 20th May, 2002.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 39 proposals of Foreign Direct Investment amounting to around Rs. 192.00 crore. The major investment proposals pertain to sectors such as chemicals & petro-chemicals, NBFC activities, telecommunications, tourism, health, information technology and software development. A list of proposals cleared is enclosed.
( Pramila Raghavendran )
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 02.05.2002
| S.No | Name & Address of the 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 crores) |
||
| 1 | Stollberg GmbH Duisburger Strasse 69-73 Oberhausen D-460049 Germany |
Stollberg India Private Limited 2, St. Geroges Gate Road 6th Floor, Kolkata |
Manufacture of industrial organic and in-organic chemicals | Mumbai | Amendment in the existing FC approval | No fresh inflow is involved | ||
| 2 | Liqui-Box Corporation, USA 6950 wothington-Galena Road, PO Box No. 494 Worthington Ohio 43085 - 0494 |
Luqui-Box India Pvt Ltd 6th Floor, Mafatlal House, Backbay reclamation, Mumbai |
Manufacture and market flexible packaging, blow-moulded containers, filing equipment and bulk dispensing systems | Pune | Acquisition of 200 shares of Rs. 100/-from the subscribers | 0.002 | ||
| 3 | Mr. Tarsem Singh Devgun(NRI), Avda Cesar Augusto, 27/IOd, 50004 Zaragoza, Spain Grupo Indasa Telecom S.A.U Via do las dos, Castillias 9-c-Portal 2, 28224 Pozuclode Alarcon Madrid |
Grupo Indasa Telecom (P) Ltd 41, Raja Garden, New Delhi |
Telecom & Allied products including optic fibre | Delhi | 100% | 1.0 | ||
| 4 | Kronotex Fussbodem GmbH & Co Wittstocker Chaussee I D-16809 Heiligengrabe Germany |
100% subsidiary | Wholesale trading of Laminate Flooring | New Delhi | 100% | 5.00 | ||
| 5 | S. Jeganathan Brei GT - 9 0187 - OSLO-4 Norway |
S. Jeganathan No. 7, 6th Street Alagammal Nagar, Nerkundram Chennai |
Export of food grain, cereals, pulses, and other agricultural products to Norway and to all the overseas buyers | Chennai | 80% | 0.80 | ||
| 6 | Voith Turbo GmbH & Co D 89522, Heidenheim Germany |
Voith Rail Transmissions Pvt Ltd Industrial Estate Nacharam Hyderabad |
After sales services/ manufacturing of hydraulic transmissions, axle drivers, carden shaft and coding systems | Nacharam, Hyderabad | 100% | 0.50 | ||
| 7 | Actaris Holding 2SA Siege social:1000 Bruxelles, Montagne du parc 4 Belgium |
Schlumberger Industries (India) Limited Resource Management Services The Capital Court, 4th Floor LSC Phase-III Olof Palme Marg, Munirka, New Delhi |
Manufacture and sales of gas meters, water meters and spares (SSI deserved Items procured from independent small scale manufacturers. | New Delhi | 100% | 0.30 | ||
| 8 | Citibank Overseas Investment Corporation, USA | E-Serve International Ltd ‘Infinity’ 2nd Floor Mind Space, Link Road Malad(W), Mumbai |
IT enabled services. | Not indicated | Increase in foreign equity from 32.41% to 34.38% | 1.24 | ||
| 9 | M/s. Prudentia 6300 ZUG Artherstrasse 6 |
Swiss Re Services India Private Limited | Non-fund based NBFC consultancy services (Risk management advisory services; no insurance activity) | Mumbai | 100% | 23.50 | ||
| 10 | Merrill Lynch & Co World Financial Center North Tower New York, USA |
DSP Financial Consultants Limited (Now, M/s. DSP Merrill Lynch Ltd.) Mafatlal Centre 10th Floor Nariman Point Mumbai-21 |
Merchant Banking activities | Mumbai | Increase in foreign equity from 40% to 41.03% by way of buy-back | No fresh inflow is involved | ||
| 11 | Mr. Yousuf Ahmed Abdulaziz
Alwazzaz Post Box No 862 Manama 304, Behrain |
JMJ Enterprises (Pvt.) Ltd Peter Mansion Trasi Post Kundapura Taluk Udipi Distt. Karnataka |
modernisation of the hospital | Karnataka | 33% | 2.00 | ||
| 12 | Exyhealth Asia Pacific Ltd 12, Science Park Drive #02-03/04, The Mendel, Singapore |
Osler Diagnostics Pvt Ltd No. 2(Old No. 34) Hindi Prachar Sabha St. T. Nagar, Chennai |
providing medical diagnostic services | Chennai | F.E - 74% NRI Equity 10% |
0.80 | ||
| 13 | AMELIORAIR S.A. F-68800,78 Faubourg des Vosges Thann, France |
LTG Amelierair India Private Limited W-19, Greater Kailash-II New Delhi |
Development, Design, construction and maintenance of industrial air engineering (filtration and air pollution systems) and waste collection equipment and parts thereof | New Delhi | Increase in foreign equity from 90% to 100% by way of acquisition of 20,000 shares | 0.02 | ||
| 14 | Sauer-Danfoss Holding A/S Denmark |
Sauer-Danfoss India Private Limited C/o. Kochhar & Co S-454, Greater Kailash-II, New Delhi |
Manufacture of mobile Hydraulic products and their components | Delhi | Acquisition of 10,000 shares | 0.01 | ||
| 15 | DXN International Pvt Ltd Lot H, Level 7, Wisma Oceanic, Jalan OKK Awang Besar 8700 F.T Labuan, Malaysia |
DXN Herbal Manufacturing India Pvt
LTD 114, Ist Floor, B-Block Thyagaraya Road T. Nagar, Chennai |
Manufacture herbal products from mushroom (Ganoderma) variety. | Pondicherry | 100% | 1.00 | ||
| 16 | Discovery Channel (Mauritius) Pvt. Ltd. Discovery
Communications Ltd., LLC, USA Discovery Production Inc. USA Sony Picture entertainment Inc. USA |
Discovery communications India Set India Ltd. |
Market cable/ satellite channel and provide subscriber management services | Not indicated | Setting up a D/s co. With equity in the ratio of 26:74 respectively. | Investment by the Indian WOS from accumulated profits (No fesh inflow is involved) | ||
| 17 | Lexmark International Technology
S.A. World Trade Centre II 29 Route de pre-Bois, Case Postale 508 CH-1215 Geneva 15, Switzerland |
Lexmark India Private Limited C/o. Kochhar & Compnay S-454, Greater Kailash-II New Delhi. |
Software development |
Not indicated | Acquisition of 10,000 shares |
0.01 (at par) | ||
| 18 | Les Cascades Building Edith Cavell Street, Port Louis, Mauritius |
Satyam GE Software Services Pvt Ltd Centre Point, HUDA Lane, S.P. Road Begumpet, Hyderabad |
IT and allied sector | Secunderabad | Increase in foreign equity from 50% to 100% | 1.06 | ||
| 19 | Agere Systems International LLC 555, Union BLVD, Allentown Pennsylvania 18103-1229, USA |
Agere Systems India Private
Limited Unit No. 4, 10th Floor Innovator Block, International Technology Park Ltd, Whitefield Road, Bangalore |
Software development | Bangalore | Transfer of 20 equity shares of Rs. 10/- each | No fresh inflow is involved | ||
| 20 | HB Internet 25 Euston Road Long NWI 2SD |
HBI Software Private Limited E 107 Sunrise Chambers, 22, Ulsoor Road Bangalore |
Software Development | Bangalore | Transfer of 10,000 shares of Rs. 10/- each | 0.01 | ||
| 21 | Castrol Ltd UK |
Castrol India Ltd White House, 91, Walkeshwar Road Mumbai |
Blending, production and marketing of lubricating oils | Not indicated | Increase in foreign equity from 71% to 71.03% consequent upon merger of M/s. Tata BP Lubricant India Pvt Ltd | No fresh inflow is involved | ||
| 22 | Valvoline International Inc 3499 Dabeny Dr. Lexington, Kentucky Kentucky 40509 USA |
M/s. Valvoline Cummins Limited 90 Associated Law Adviser 612 & 615 Antriksh Bhavan 22, K.G. Marg, New Delhi |
Lube oil blending plant | Mumbai | Amendment in the existing FC approval | No fresh inflow is involved | ||
| 23 | 1) International Finance
Corporation, Washington 2) ABB Power investment India BV 3) Jagerpadu CMS Generation Co 4) NRI, OCB, foreign Bank, foreign investment co., individual foreign investors and foreign institutional investors |
M/s. GVK Industries Ltd, Road No. 1 Banjara Hills, Hyderabad |
Setting up of 200 MW mixed fuel combined cycles gas power plant | Jegurupadu, East Godavari Distt. A.P | Amendment in the existing FC approval | No fresh inflow is involved | ||
| 24 | India Communications Global Partners PCC Mauritius 608, St. James Court St. Denis Street, Port Louis, Mauritius |
Shyam Telecom Ltd A-60, Naraina Indl. Area, Phse-I New Delhi |
Promotion, investment and participation in telecommunication ventures including Cellular and basic telephoney etc. | New Delhi | 10% | 73.50 (Including premium) | ||
| 25 | Pierre Thomas Rue de rouge-Coloitre,56 B-1310 LA HULPE Belgium Yves Flon Boulevard Emile Bockstael 123 B-1020 Brussels, Belgium |
Modern Age Digital Experience Pvt Ltd A-302, Rishi Apartments Alaknanda, New Delhi |
ISP, development of software | New Delhi | 100% | 1.55 | ||
| 26 | Telelogic AB Box 4128, 203 12 Malmo, Sweden |
Telelogic India Pvt Ltd Prestige Meridian II 11th Floor, 30 K.G. Marg Bangalore |
Software development | Bangalore | 100% | 2.50 | ||
| 27 | Singapore Airport Terminal
Services Ltd P.O. Box 3, Singapore Changi Airport, Singapore 918141 |
Taj SATS Air Catering Ltd Mandlik House, Mandlik Road Mumbai |
Air catering, Institutional catering and operation of restaurants | Mumbai | 49% | 67.17 | ||
| 28 | B.N. Somayaji & Mrs. Sumedha N. Somayaji, USA |
Saptagiri Hotels Pvt Ltd Airport Road Kavoor, Mangalore |
Hotel Industry | Bangalore | Increase in foreign equity from 93.99% to 97.50% | 0.045 | ||
| 29 | M/s. Rajkumar Jagbandhan, Plein 1813 nr., 6824 HX Arnhem, Holland, Netherlands |
M/s. Rajkumar Jagbandhan, 392, DDA Flats, Sanjay
Enclave, Delhi |
Chain of restaurants with state of art entertaining facilities in Delhi, Mumbai, Chennai etc. | Delhi | 100% | 3.5 | ||
| 30 | M/s. Tyco Asia Investments Ltd 210, St. James Court Rue St. Denis Port Luis, Mauritius |
M/s. Hofincons Infotech and Industrial Services
Ltd Ramesam Corporate Centre, 211, V.M. Street Mylapore, Chennai |
Acquisition of shares in Sakhi Raimondi Valve (India) Ltd. | Chennai | Purchase of 38 lakh equity shares of Rs. 10/- each equivalent to 100% of the paid up capital from the existing resident/non-resident shareholders | 3.80 | ||
| 31 | Bekaert NV Bekaert SA Bekaertstraat B-8550, Zwevegem |
M/s. Bekaert Industries Pvt Ltd B-1, Ranjangaon MIDC Tal, Shirur Distt. Pune |
Cash and carry wholesale trading in selected steel cord items. | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved | ||
| 32 | Rouse & Co International United Kingdom and/or its parent, subsidiaries, affiliates or nominees including Rouse & Co., Hong Kong |
Rouse & Co. International The ISIS Building Thames Quay 193, Marsh Wall London E-14 9SG |
Consultancy/ support service in the field of protection and management of intellectual, business & industrial property rights. | New Delhi | Acquisition of 10,000 shares held by the subscribers to the M & AOA | 0.01 (at par) | ||
| 33 | OCS Services Limited 7-11, Britania Place Bath Street, St. Helier, Jersey JE4 8US, Channel Islands |
OCS Consultants & Services Pvt Ltd 8, Nyanyadeep Raviraj Complex Near Laxmi Ind. Estate Andheri (W) Mumbai. |
Consultancy and technical services to oilfield and marine sector. | Mumbai | Transfer of 10,000 (100% shares) |
0.51 | ||
| 34 | Hayward Tyler Group Limited 1, Kinpton Road Luton LU 3 LD England
|
Hayward Tyler Group Limited Villa 20 (S.F)/Block V EROS Garden, Suraj Kund Road Faridabad |
Providing after sales support services. | Faridabad | 100% | 0.05 | ||
| 35 | M/S. Cincinnati Milacron Marketing Co. Ltd. (NNC) 4165, Halfacre Road Batavia OH 45103 |
M/s. Ferromatik Milacron India Ltd. 53, Madhuban, Nr. Madalpur Underbridge, Ellisbridge, Ahmedabad |
Manufacture of plastic machinery injection moulding machines, blow moulding machines and extrusion machines. | Not indicated | Equity swap | No fresh inflow is involved. | ||
| 36 | Flint ink (Mauritius) Ltd. III Floor, Cerne House La Chaussee, Port Louis Mauritius. |
Incowax Private Limited 47-D, Bommasandra
Industrial Area, Bangalore |
Manufacture of liquid printing inks for Gravure and flexo applications. | Bangalore | Acquisition of 46,500 equity shares | 0.30 | ||
| 37 | GFK Asia Pte. Ltd. 10, Ansan Road #09-13, International Plaza Singapore |
ORG-MARG Research Pvt. Ltd. Cititower, 2nd Floor, 61, Dr. S.S. Rao Raod, Parel, Mumbai. |
Market research business providing its service to corporates in the business of consumer electronics and household appliance. | Bangalore | Increase in foreign equity from 26% to 40% | 0.56 | ||
| 38 | Sparton Fe Pte Ltd 111, North Bridge Road # 21-01 Peninsula Plaza Singapore |
FE Electronics (India) Pvt Ltd # 8/1, Eagle Street, Langford Town Bangalore |
architectural and engineering activities and related technical consultancy | Bangalore | 100% | 0.05 | ||
| 39 | GKN Sinter Metal Holdings Ltd PO Box 55, Ipsley House, Ipsley Church Lane, Redditch Worcestershire B 98 OTL, England |
Mahindra Sintered Products Ltd Gateway Building, Apollo Bunder, Mumbai |
manufacture and sale of sintered bearings and parts, sintered automotive components, sintered filters and metal powders viz., copper and tin | Pune, Maharashtra | Increase in foreign equity from 49% to 100% | 1.15 | ||