| Government of India ***
Udyog Bhavan, New Delhi-110 011
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 29 proposals of Foreign Direct Investment amounting to around Rs. 135.00 Crore. The major investment proposals pertain to Tourism, electrical & engineering industry and NBFC activities,
( M.S. SRINIVASAN ) |
FIPB MEETING HELD ON 09.08.2001
( No.20/2001)
| S.No. | Name of the company | Activity | Percentage of FDI/NRI investment | Amount of FDI/NRI inflow(Rs. In crore) |
| 1. | M/s. Royal Canin, France | Permission for test marketing of extruded dry pet foods including dog and cat foods made from meats and cereals before establishing 100% subsidiary for undertaking manufacturing activities | Amendment in the existing FC approval | No fresh inflow is involved |
| 2 | M/s. Schenectady India Ltd | Manufacture of Wire enamels and insulation varnishes, phenolic resins | Increase in foreign equity from 97.59% to 100% | 0.40 |
| 3 | M/s. Mandvi International | Export trading | 74.39% | 4.09 |
| 4 | M/s. Australia & New Zealand Banking Group |
Merchant banking | 75% | 23.50 |
| 5 | M/s. Sandvik AB, Sweden |
Manufacture of hot extruded seamless stainless steel | Conversion of ECB into equity | No additional inflow involved |
| 6 | M/s. Dirk India Pvt Ltd |
Recycling of flyash from thermal power stations into usable value added products | Increase in foreign equity from existing 75% to 100% by way of adjusting against the expenses | No physical inflow |
| 7 | M/s. Haryana Fibres Ltd | Manufacture of menthol oil | Increase in foreign equity from 17.43% to 47.57% | 1.56 |
| 8 | M/s. Comfort Disposable Sanitary Products (Pvt) Ltd |
Manufacture of disposable sanitary products | 51% | 1.78 |
| 9 | M/s. F.G. Wilson Generators India Pvt | Manufacture of diesel and other power generating sets, parts, components accessories thereof & test marketing | Amendment in the existing FC approval | No additional inflow |
| 10 | M/s. Cherokee India Pvt Ltd | Manufacturing magnetic components, printed circuit boards assemblies for power supplies semi custom/custom design and development of power supplies | Acquisition of 4000 shares | 0.04 |
| 11 | M/s. Icelerate Technologies (P) Ltd | Software development | Foreign equity increases from 90% to 100% | 0.38 |
| 12 | M/s. Radiant Infosystems (P) Ltd |
Software development | Increase in equity from 51% to 100% | 0.0245 |
| 13 | M/s. Ariga Systems Pvt Ltd | Software development | 99.99% | 0.35 |
| 14 | M/s. American Explorations (India) B.V., | Mineral exploration, mine development , mineral processing, smelting and refining | Amendment in the existing FC approval | No additional inflow |
| 15 | M/s. Ogden Energy Inc., USA |
Operation and maintenance services for power plants | Amendment in the existing FC approval | No additional inflow |
| 16 | M/s. Narrowcasters Pty Ltd., Australia | Providing audio guide services | 100% | 0.05 |
| 17 | M/s. Mohammed AI Otaiba Group Est, Abu Dhabi, UAE | Development of leisure and amusement industry | 100% | 14.10 |
| 18 | Mr. Parthiv Kastea | Subway Franchise Restaurant | 50% | 0.25 |
| 19 | M/s. Schott Glass India (Pvt ) Ltd | Manufacture of special glass tubing and pharmaceutical packaging activity | Amendment in the existing FC approval | No fresh inflow is involved |
| 20 | M/s. GE Power Services (India) Pvt Ltd | Assembling of Turbo chargers and carry out the after sales service job and repair of turbo chargers | Amendment in the existing FC approval | No fresh inflow is involved |
| 21 | M/s. Kaeser Kompressoren GmbH, Germany | Assembly of imported and locally procured parts of vacuum packages and compressor systems and to render installation and after sales services | 100% | 1.00 |
| 22 | M/s. Gillete India Ltd (Indian Shaving Products Ltd) |
Manufacture of razor blades and advanced shaving systems | Amendment in the existing FC approval | No additional inflow |
| 23 | M/s. Linde Process Technologies Pvt Ltd |
Technical engineering operation in the areas of energy conservation, environment protection | Amendment in the existing FC approval | No additional inflow |
| 24 | M/s. Electrolux Kelvinator Ltd |
Manufacture and marketing of refrigerators, washing machines | Amalgamation | No fresh inflow is involved |
| 25 | M/s. ETA Engineering Ltd |
To carry on business of mechanical engineers and general contractors | Foreign equity increases from 74% to 76.43% | 2.50 |
| 26 | M/s. Emerson Electric (Mauritius) Ltd., Mauritius | Manufacture, selling, marketing un-interruptible power supply, access control and close-control air-conditioning systems | 50% | 76.50 |
| 27 | M/s. Aegis AMI Holdings Company B.V | Market research services | 100% | 0.01 |
| 28 | M/s. Miranda Amsaw Ltd | Manufacture and sale of saw products in India | Increase in foreign equity from 50% to 100% | 8.15 |
| 29 | M/s. Texon UK Ltd | Manufacture and trade in soles, heels and other allied footwear components | 100% | Equity amount not indicated |