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

.........

Udyog Bhavan, New Delhi
dated, the 29th November, 1999.

PRESS RELEASE

On the recommendations of the Foreign Investment Promotion Board (FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 73 cases of Foreign Direct Investment of about Rs.656.87 crore. The proposals cover various sectors like automobile, transport, electronic hardware & software, mineral, consultancy in engineering design & construction, textiles, white goods, financial, hotel, electrical, and telecom sector. A list of proposals cleared is enclosed.

 

( Ashok Kumar )
Joint Secretary to the Government of India

 

 

 

 

 

S.No.

Name of Applicant

Activity

Percentage of FDI/NRI equity

FDI/NRI Amount

(Rs. Crores)

 

1

M/s. Sygene International Pvt Ltd

Research & development in Bio-technology

Foreign Equity - 48.32%

NRI Equity - 16.04%

1.57

 

2

M/s.Vanleer Packaging Worldwide

To conduct market studies and project report

 

----

 

----

 

3

M/s. Liqui-Box Corporation, USA

Mfr. And mket. Flexible packaging, blow-moulded containers etc.

100%

4.25

4

M/s. Maruti Synthetics and Pharmaceuticals Ltd

Mfr of Monochi Oroacetic acid etc.

23.69

1.04

 

5

M/s. All Asia Customer Services(Mauritius) Ltd

Establishing marketing agency and airtime sales company

74%

16.34

6

M/s. Tri International Ltd.

Clearing and forwarding agency

 

---

 

----

7

M/s. ITA Integrated Services Pvt Ltd

to engage in the technology transfer, mktg. Of foreign companies and sourcing from India export of Indian goods

 

----

 

----

8

Capt. Deepak Sethi

To undertake service activities like clearing, forwarding and freight agents and related business

 

---

 

----

 

9

M/s. ABB Brown Boveri Ltd

To act as a holding company for ABB Asea Brown Boveri

-----

------

10

M/s. Zurich Insurance Company, Switzerland

Asset Management

Increse from 50% to 100%

31.87

 

11

M/s.Dorling Kindersley Family Learning Pvt Ltd

to undertake direct marketing of Dorling Kindersley Books, videos, CD Roms

 

----

 

 

----

 

12

M/s. MLOT Hospitals Ltd

Providing medical services and running hospital

 

----

 

----

13

M/s. Swaraj Mazda Ltd

Commercial vehicles, public transport vehicles including automotive commercial three wheeler jeep type vehicles

 

 

 

-----

 

 

 

-------

 

 

14

M/s. Escorts Yamaha Motors Ltd

Mfr. Of motor cycle

Preference shares

12

15

M/s. Reva Electric Car Co. Pvt Ltd

mfr. Of electric powered passenger car

36.75%

 

18.06

 

16

M/s. BBC Worldwide India Pvt Ltd

to provide advertisement support services

Preference shares (100%)

0.91

17

Mr. Jaydev Raja, USA

Information Technology services

100%

1

18

M/s. Allot & Lomax (International) Ltd, UK

Providing project management and engineering services

50%

0.05

 

19

M/s. FEA Software India Pvt Ltd

Supply of software products and services

100%

1.07

20

 

M/s. Everest Consulting Group India Pvt Ltd

Computer software development and recruitment of specialists for overseas employment

100%

0.05

21

 

M/s. Microland Ltd

Computer consultancy, software services, data processing services and education services

36.57%

28.27

22

M/s. Employment Solutions Inc., USA

Software services

100%

0.42

 

23

 

M/s. Jobs DB India Pvt Ltd

 

Job recruitment services through Internet networking databases.

100%

8.5

24

M/s. Global Consultant Inc.

Development of software

100%

0.1

25

M/s. Gujarat Narmada Valley Fertilizers Co. Ltd

International gateway for internet

 

----

 

----

26

M/s. Geographic Software Systems Pvt Ltd

Development of Software

66.67%

0.15

27

M/s. Toppan Management Systems Pte Ltd

Computer Software development

100%

0.4

 

28

M/s. Transworld garnet Pvt Ltd

Mfr. Of almandite Garnet Sand

 

----

 

----

29

M/s. Drillcorp Western Deephole, Australia

Drilling operations for exploration in the minerals and other associated sectors

100%

42.5

 

30

 

M/s. SHV Energy India (P) Ltd

Operation of LPG terminals blending and bottling plants, mfr. Of gas cyliners, regulators, valves and ancillary equipment

Increase from 65% to 100%

3.85

 

31

 

M/s. UPS International Inc., USA

International express export and import services for letters, parcels, luggage, and any other articles that are handled by forwarding agents,.

100%

17

 

32

M/s. BPL Limited

Establishment,operation and maintenance of Power generating facilities and providing other engg. Services

51%

1.53

33

M/s. Central India Power Co. Ltd

Establishment of coal based thermal power station at Bhadrawati

 

-----

 

----

 

34

M/s. MSAS Blue Skies Ltd

Freight forwarding operations, warehousing and distribution services

Increase from 60% to 90%

6.7

 

35

M/s. UPS Worldwide

Import, export and domestic cargo handling services

 

---

 

----

 

36

M/s. Global Suhaimi Co

To undertake specialised contracting services for the maintenance and protection of the Indl. and residential structure from degradation, corrosion etc.

 

 

 

 

 

 

-----

 

 

 

 

 

 

----

37

M/s. Obayashi Corporation, Japan

To undertake engg. Consulting, designing, construction etc. of all kinds of construction

 

80%

0.8

38

M/s. Global Aviation Services Pvt Ltd

To provide wholesale courier linehaul and air and sea freight forwarding and ligistics services.

50%

0.2

 

39

M/s.Worldtel Mauritius Ltd.

Provide infn. Technology based services, electronic commerce, internet & other related services

49%

281.75

40

M/s. Fascel Ltd

Cellular Mobile Telephone Services

----

----

41

M/s. Hughes Escort Communications Ltd

Mfg, mktd., selling, installing, operating and maintaining V-SAT equipment/services in India

 

 

 

---

 

 

 

------

 

 

42

M/s. Axistel International Inc.

Business of selling pre-paid telephone cards and setting up the marketing and distribution network

100%

4.3

43

M/s. Gujarat Narmada Valley Fertilizers Co. Ltd

Vsat Service Provider

 

----

 

----

 

44

M/s. Levis Strauss (I) Pvt Ltd

Sourcing finished garments manufactured by indl. Units

 

 

Issue of preference shares

 

25.8

 

45

Miss. Ursula Montag, Germany

Mfr and export of readymade garments

71%

1.06

 

46

M/s. Facade Buildwell Pvt Ltd

Service sector of housing

50%

0.2

 

47

M/s. Flovel Ltd

Mfr of Hydraulic Turbines

Increase from 51% to 61.5%

21.39

48

M/s. BSH Home Appliances Pvt Ltd

to mfr, mkt and trade of white goods

 

----

 

----

49

M/s. GIP Leather (India) Ltd

Mfr. Of leather garments, leather bags and accessories, leather shoes, leather items

Increase from 30% ro 49%

0.66

50

M/s. India Nails Manufacturing Pvt Ltd

Prodn, mktg. And sales of anumal shoe nails and animal shoes

 

------

 

------

51

M/s. Signal Cables (India) Pvt Ltd

Mfr of stranded copper conductors etc.

50%

4.35

52

M/s. Simpson Industries Inc., USA

Mfr. Of Rubber Damperss including cummins etc.

51%

3.6

 

53

M/s. Multiple Zones India Pvt Ltd

Micro Computer products

Decrease in equity from 80% to 40% whereas Increase in paid -up capital

0.21

 

54

M/s. Universal Silicones & Lubricants Pvt Ltd

Silicone sealant; silicone adhensives;speciality lubricants

 

-----

 

-----

 

55

 

 

M/s. Roberts Schaefer Mauritius (Pvt) Ltd

To execute projects for coal and other minerals processing and handling, infrastructural development projects

 

 

-----

 

 

-----

 

56

M/s. Nissho Iwai Corporation

To export and import of products, to set up downstream joint ventures etc.

 

---

 

---

 

57

M/s. Wrox Press Ltd., UK

Marketing of books etc.

100%

0.5

 

58

M/s. Kirloskar Copeland Ltd.

Gas Compressor

---

---

59

M/s. Grupo Antolin Irausa, SA Spain

Mfr. Of Automobile spare parts

Increase in equity from 25% to 75%

2.01

 

60

 

M/s. Accelerated Network India Pvt Ltd

Development of Software

100%

7.35

61

M/s. Condor Infotech Pvt Ltd

Development of software

10%

2

62

M/s. ITBIDS.COM.LLC., USA

Software development

100%

3

63

 

M/s. Lexsite.Com.Ltd.

 

Providing leval and commercial information services

Increase in equity from 51% to 55%

0.27

64

M/s. Firstring India Pvt Ltd

Development of software

100%

4.3

65

M/s. Swift Response Pvt. Ltd.

Development of Software

99.995%

0.199

66

M/s. Tower Automotive Inc

Development of software

100%

2.254

 

67

 

M/s. Shell India (P) Ltd.

 

Preparation of feasibility studies, market surveys and other related promotional activities

 

 

-----

 

 

----

 

68

M/s. Benity Navada Corp

Mfg. And assembling of electronic hardware and software including import, export and resale etc.

 

 

-----

 

 

----

 

69

M/s. Marwar Hotels Ltd

Hotels

Revision of equity to 5% FDI &

15% NRI Equity

24.39

 

70

M/s. Alstom Engines Ltd

Mfg. Supplying and installing certain diesel engines generator sets, spare parts and components

 

 

-----

 

 

----

71

M/s. Duracell India Pvt Ltd

Mfr. of Alkaline Batteries

Increase in equity from 93% to 96%

43

 

72

M/s. Bharti Televentures Ltd

Promotion of activities relating to the telecom sector

Increase in equity from 36% ro 49%

25.65

73

M/s.MTNL

 

Disinvestment

 

Disinvest-ment through GDR

 

---