Government of India
Ministry of Commerce & Industry
Department of Industrial Policy & Promotion
( Foreign Collaboration Division )
***
Udyog Bhavan, New Delhi -110 011
Dated, the 26th November, 2002.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board (FIPB), Commerce & Industry Minister, Shri Arun Shourie has approved 41 proposals of Foreign Direct Investment amounting to around Rs. 206.00 crore. The major investment proposals pertain to the sector of bio-technology, telecommunications, manufacture of electrical components, information technology & software development, consultancy & advisory services and NBFC activities. A list of proposals cleared is enclosed.
( Pramila Raghavendran )
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 31.10.2002 & 14.11.2002
| 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 crore) |
| 1 | Novozymes (Singapore) Pte. Ltd 141 Middle Road #04-07, GSM building Singapore-188976Singapore |
Novozymes South Asia PrivateLimited(NZIN) 16-VIIth Floor, Innovator, International Technology Park, White Field Road, Bangalore |
Manufacturing/process-ing of industrial enzymes and the distribution of various industrial enzymes in India | Bangalore | 100% | 5.00 |
| 2 | Eaton Hydraulics Inc Eaton Center 1111 Superior Avenue Cleveland, OH 44114-2584, USA |
Vickers Systems International Ltd 145, Off Mumbai-Pune Road, Pimpri, Pune-18 |
Design, manufacturing and marketing of a comprehensive line of hydraulic systems and components for agriculture, construction, industrial mining applications | Delhi | Increase in foreign equity from 51% to 100% | 1.81 |
| 3 | Computer Associates International Inc. USA | ACCPAC India Private Ltd B-102, Prestige Center Point, #7, Edward Road Bangalore-560 052 |
Computer software designing, development etc. | Bangalore | Increase in equity from 51% to 100% | 1.03 (at par) |
| 4 | Pebble Creek Resources Ltd, Canada | Adi Gold Mining Private Limited H-142, New Saraswati Society Sector-9 Rohini, Delhi-85 |
Undertake exploration and mining of copper, zinc and lead and manufacturing concentrates | Pithoragarh, Uttar Pradesh | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 5 | Mr. Jehangir J. Guzder 310, Victoria Avenue, Suite 408, Westmount, Montreal, Que, Canada |
M/s. AFL Private Limited AFL House, Lok Bharti Complex, Marol Maroshi Road, Andheri(E) Mumbai |
Cargo handling incidental to Land/water/air transport, courier and logistics related activity | Mumbai, Maharashtra | Increase in foreign equity from 5.52% to 9.46% | 0.45 |
| 6 | South Asia Regioal Fund(SARF), Mauritius Softbank Asia Infrastructure Fund (SAIF) Investment Company Limited, Mauritius |
Satyam Infoway Ltd Mayafair Centre, II floor, 1-8-303/306, S.P. Road Secunderabad-3 |
Setting up public data network for providing electronic commerce, electronic data interchange and internet services | Chennai | Increase in foreign equity from 44.7% to 57% | US $ 13.00 Million ( 65.00 Cr) including premium |
| 7 | Cesma International Pvt Ltd,
Singapore Hua Kok Reality (Pvt.) Ltd, Singapore Hua Kok Industrial Building, 32, sungei Kadut Way, Singapore 728 787 Tiong Seng contractors (Pte.) Ltd, Singapore 510 Thomson Road #19-00, SLF Building, Singapore 298135 Neo Corporation Pte Ltd, Singapore 1 Irving Road, #07-01, Singapore |
Cesma International Pvt Ltd. C/o. J. Sagar Associates F-3, Ligoury Court 7 Palm Grove Road Victoria Layout Bangalore-47
|
Consultancy and related service for construction and real-estate industries | Delhi | Downstream investment for 100% WOS | 1 million Singapore Dollors (2.20 Cr Approx) |
| 8 | Terraco Holdings Ltd P.O. Box 4092 Limassol, Cyprus |
Sweden Terraco (India) Private Limited 218, Hanuman Estate G.D. Ambedkar Marg Wadala, Mumbai |
Manufacture and sale of finishing materials and chemicals for construction industry and industrial adhesives and coatings | Vapi, Gujarat | 100% | 2.00 |
| 9 | Suzuki Motor Corporation 300, Takatsuka Hamamatsu Japan |
Maruti Udyog Limited 11th Floor Jeevan Prakash 25, Kasturba Gandhi Marg New Delhi-1 |
Setting up an Aluminium Foundry which will mfr. Aluminium castings for various applications including automobiles | Gurgaon, Haryana | 51% | 12.75 |
| 10 | M/s. Siemens AG, Berlin, Germany |
VXL Landis & GVR Ltd C/o. amarchand & Mangaldas & Suresh A. shroff & Co Peninsula Corporate Park Ganpatrao Kadam Marg Lower Parel, Mumbai |
Manufacture, calibration, assembly, sale and service of house service and specialized KWH meters and electronic tariff registers and meter test consoles, relays and control panels | Joka, 24, Parganas, West Bengal | Increase in foreign equity from 87.26% to 100% | 25.00 |
| 11 | Individual NRIs – Yet to be identified | M/s. Sahjanand Marketing Pvt Ltd Sai Kruti Complex, Nr Hari Nagar Water Tank, Gotri Road, Vadodara |
Whole sale trading of building material, cement, steel, construction chemicals | Vadodara, Gujarat | 85% | 1.70 |
| 12 | H.E. Excellency Yusuf Bin Alawi Abdullah P.O. Box 5553 Ruwi Sultanae of Oman |
Shantha Biotechnics Pvt Ltd Serene Chambers, IIIrd Floor, Road No. 7 Banjara Hills, Hyderabad-34 |
Manufacture of Hepatitis B Vaccine, Alpha Interferon, Restriction Enzymes Bio-tech Lab Reagents | Hyderabad | Increase in foreign equity from 50% to 50.46% | 1.55 |
| 13 | Pigment Colour Ltd P.O. Box HM 1022 Richmond House, 12, Par-La Ville Road Hamilton HM DX, Bermuda |
European Colours India Private Limited 22, Ajay Shopping Centre, T.H. Kataria Marg Matunga(West) Mumbai |
Manufacture, sell and distribute organic pigments, inorganic pigments and pigment preparations | Mumbai | 99% | 3.50 |
| 14 | Sumitomo Corporation, 1-222-2, Hitotsubashi Chiyoda-ku Tokyo 100, Japan |
Sumitomo Corporation India Pvt Ltd Antriksh Bhawan 22, K.G. Marg New Delhi-1 |
Engaged in the process of procurement and supply of materials and equipments | Mumbai | Downstream investment | 1.99 |
| 15 | Cargill International Trading Pte Ltd 300 Beach Road # 23-01 The Concourse Singapore 199555 |
100% WOS | Engage in trading, advisory and consulting services | Not indicated | 100% | 25.00 |
| 16 | M/s. Excel Technology Inc. 41 Research Way East Setauket, NY 11703, USA |
Excel Laser Technology Private Limited A1-424, Shah & Nahar Industrial Estate, Dhanraj Mill Compound Lower Parel, Mumbai |
Import of laser equipment and promote local sales marketing | Mumbai | 50% | 0.25 |
| 17 | Travalex Plc 65 Kingsway London WC2B 6TD United Kingdom
|
Travelex India Private Limited(under incorporation) | Forex broking and money changing businesses | Mumbai | 100% | 40.00 |
| 18 | Prudentia AG Revisionen 6300 ZUG Artherstrasse 6 Switzerland |
Swiss Re Services India Pvt Ltd C/o. Crawford Bayley & Co State Bank of India bldg. NGN Vaidya Marg Mumbai – 23 |
Non-fund based NBFC consultancy company | Mumbai | Transfer of 10,000 shares | 0.01 |
| 19 | M/s. Jumbo World Holdings Ltd. Al Salam Tower, Sheikh Zayed Road P.O. Box No. 2548 Dubai, UAE |
M/s. Shaw Wallace & Co Limited Dunlop House 132 A, Dr. Anne Besant Road, Worli, Mumbai |
Manufacture/marketing/distribution of Alcoholic Beverages, Marketing of Agrichem Products | Bangalore | Increase in foreign equity from 39.07% to 43.93% | 3.33 |
| 20 | M/s. Medici Holdings Limited, USA | M/s. TTK Services Pvt Ltd 202, Raheja Chambers, 12 Museum Road Bangalore |
Rendering services to NRIs by way of Healthcare and property services etc. | Bangalore | Amendment in the existing approval | No fresh Inflow is Involved |
| 21 | Suzuki Motor Corporation 300, Takatsuka-Cho Hamamatsu-shi Shi Zuoka-ken Japan |
Maruti Udyog Limited 11th Floor Jeevan Prakash 25, Kasturba Gandhi Marg New Delhi-1 |
Import of grand vitara model and its variants vehicles in CBU condition for development of marketing for their holding company | Gurgaon, Haryana | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 22 | Nippon Thermostat Company Limited 6-59-2, Nakasato Kiyose City Tokyo 204 Japan |
Nippon Thermostat (India) Limited GA & GB, "Riviera Park" No. 11, 4th Main Road Extn. Kotturpuram, Chennai |
Extn of technical collaboration agreement | Kotturpuram, Chennai | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 23 | Sulzer Textil Limited CH-8630 Ruti ZH Switzerland |
Sultex (India) Pvt Ltd Karmayog Building Parsi Panchayat Road Andheri (East), Mumbai-69 |
To carry on the business of after-sales service for hi-technology textile machinery | Mumbai | 100% | 2.00 |
| 24 | Sumitomo Corporation, 1-222-2, Hitotsubashi Chiyoda-ku Tokyo 100, Japan |
J.J. Impex (Delhi) Private Limited F-39, Okhla Industrial Area, Phase II New Delhi-20 |
After sales services | New Delhi | Increase in foreign equity from 47.5% to 50% | Amount not Indicated |
| 25 | M/s. Hakuhodo Inc 4-1, Shibaura 3-chome Minatyo-ku Tokyo 1088088 Japan |
M/s. Tygermen India Pvt Ltd Ernst & Young Pvt Ltd 18th Floor, Express Towers Nariman Point Mumbai-21 |
Engage in full scale advertising agency | Mumbai | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 26 |
|
M/s. Lanco Global Systems Ltd 8-3-993, Lanco Towers Srinagar Colony Hyderabad |
Development of Computer Software | Hyderabad | Increase in foreign equity from 47.83% to 78.33% by share swap | No physical Inflow is Involved |
| 27 | M/s. Globally Managed Services Limited Level 3, Horatio House 77 Fulham Place Road Hammersmith, London W6 8JA United Kingdom |
M/s. Globally Managed Services
Private Ltd (under Incorporation) 3rd Floor, Mumbai educational Trust Gen AKV Chowk, Bandra Reclamation, Mumbai |
Software development and IT enabled services Viz., Business process outsourcing etc. | Mumbai | 100% | 3.73 |
| 28 | Cadence Design Systems Inc 555, River Oaks Parkway San Jose CA 95134, USA |
Cadence Design Systems (I) Pvt Ltd First Floor, Embassy Classic No. 11 Vittal Mallya Road Bangalore |
Permission for import of spare parts for after-sales support | Bangalore | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 29 | Sharp Corporation, Japan | Sharp Business Systems (India) Limited 214-221, Ansal Tower, 38, Nehru Place New Delhi -19 |
Confirmation regarding permission for import, export and trade in hi-tech items including fax machines | New Delhi | Amendment in the existing FC approval | No fresh Inflow is involved |
| 30 | Neoteris International Inc 2711 Centerville Road Wilmington, County of New Castle, Delaware 19808, USA |
Neoteris Software India Pvt Ltd Plot # 362/1/A, Road # 25, Jubilee Hills, Hyderabad |
Software development | Hyderabad | Increase in foreign equity from 91% to 100% | 0.01 |
| 31 | Aarohi communications Inc 405, River Oaks Parkway San Jose CA 95134, USA |
Aarohi Communicatons India Pvt Ltd 102, Koramangala Indl. Layout, 5th Floor Bangalore |
Software development | Bangalore | 100% | 0.01 |
| 32 | M/s. BDK Societe Ltd 75 Kingsbridge Road Norwood Green, Middx UB25RU, England, UK |
M/s. Mormugao Maritime Limited Cidade De goa Vainguinim Beach, Dona Paula, Goa |
Infrastructure sector to
establish/maintain/operate shipping services (Public & Private) for carriage of
passengers and goods of all kinds
|
Goa | 25.11% | 2.26 |
| 33 | M/s. Toyota Tsusho Corporation Tokyo Head Office (Toyota Kundan Building) 3-18, Kundan-Minami 2-Chome, Chiyoda-ku Tokyo – 102, Japan |
Steel and Logistic Centre Private Limited Toyoto Techno Park Plot No. 20, Building No. 4 Bidadi Indl. Area Ramanagara Taluk Bangalore |
Sourcing and re-sale at wholesale level to sectors other than automobile | Bangalore | Amendment in the existing FC approval | No fresh Inflow is involved |
| 34 |
|
M/s. Trinet India Pvt Ltd 5, Tagore Garden Ambala Cantt. Ambala (Haryana) |
Internet Services with Gateways | Gurgaon, Haryana | 74% | 2.79 |
| 35 | M/s. Benetton Group SPA 31050 Ponzano Veneto(TV) Italia |
DCM Benetton India Ltd Kunchenjunga Bldg. 1st Floor, 18, Barakhamba Road New Delhi
|
Setting up an integrated manufacturing facility for textile sector in the knit fabric area | New Delhi | Amendment in the existing FC approval | No fresh Inflow is Involved |
| 36 | IBEX Gallagher Group, New Zealand |
IBEX Electronics 175/54, Ratanvilas Road Basavanagudi Bangalore-560004 |
Extension of Technical collaboration agreement | Bangalore | Amendment in the existing FC approval | No fresh Inflow is Involved` |
| 37 | BVQI Holding S.A 17 bis Place des Reflets, La Defense 2-92400, courbevoie, Paris, France |
BVQI India Private Limited The Leela galleria 5th Floor, Andheri –Kurla Road Andheri(E) Mumbai |
Carry on the business of certification and audit of quality, environment, safety and other management systems to national and international standards etc. | Mumbai | 100% | 0.05 |
| 38 | Geopetrol International Inc Calle 53, Urbanizacion Obarrio Torre Swiss Bank Panama RP |
100% subsidiary C/o. Vaish Associates, 10, Hailey Road Apts. 5,6 & 7 New Delhi |
Oil exploration, other oil field related services | New Delhi | 100% | 0.24 |
| 39 | Sulzer Pumps Limited Zuercherstrasse 12 CH-8401 Winterthur Switzerland |
Sulzer Pumps India Ltd 9 MIDC Digha Thane Belapur Road Navi Mumbai |
Manufacture of certain types of pumps used in chemical, petro-chemical, petroleum refinery and industrial power sector | Mumbai | Increase in foreign equity from 98% to 100% | 0.54 |
| 40 | Aldes Aeraulique S.A. 20, BVD Joliot Curie 69694 Venissieux Cedex France |
Aldes Air Technologies Pvt Ltd #504, Carlton Towers 1, Airport Road, Cedex, Bangalore-8 |
Providing air diffusion, quality and management solutions and related services | Bangalore | Transfer of 10,000 shares of Rs. 10/- each | 0.01 |
| 41 | M/s. Jumbo World Holdings Ltd. Al Salam Tower, Sheikh Zayed Road P.O. Box No. 2548 Dubai, UAE |
M/s. Falcom Tyres Ltd K.R.S. Road Metagalli, Mysore |
Manufacture/marketing/distribution of Automotive Tyres and Tubes | Mumbai | Increase in foreign equity from 0.06% to 30.71% | 1.83 |