Government of India
Ministry of Commerce & Industry
Department of Industrial Policy and Promotion
(Foreign Collaboration Division)
***
Udyog Bhavan, New Delhi-110 011
Dated, the 31st July, 2002.
PRESS RELEASE
On the recommendations of the Foreign Investment Promotion Board(FIPB), the Commerce & Industry Minister Shri Murasoli Maran has approved 46 proposals of Foreign Direct Investment amounting to around Rs.214.00 crore. The major investment proposals pertain to sectors such as insurance, manufacture of automotive components & plastic parts, manufacture of electrical and automotive components, mines, telecommunication, software development and information technology related services. A list of proposals cleared is enclosed.
( Pramila Raghavendran )
Under Secretary to the Govt. of India
FIPB MEETING HELD ON 18-07-2002 & 25.07.2002
| 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 | Atofina SA 4-8 Cours Michelet, LA Defense 10 Cedex 42 France, paris |
Atofina Peroxides India Ltd 8, Cathedral Road Chennai |
Manufacture of organic peroxides | Not indicated | Increase in foreign equity from 51% to 100% | 0.47 |
| 2 | Sumitomo Chemicals Company Limited, Tokyo | Sumitomo Chemical India Pvt Ltd 93/9th Floor, Maker Chambers VI 220, Nariman Point Mumbai |
Import and test marketing of Gibbrellic acid and Bacillus Thiringiensis variety, Kurstaki and certain additional products | Not indicated | Permission for test marketing | No fresh Inflow is Involved |
| 3 | Dimal Asia Pacific Sdn Bhd 3221 & 3226 Batu 29 Jalan lpoh 44300 Batangkali, Selangor Malaysia |
Dimal Refractory supply & services Pvt Ltd 104, Bharat House, Ist Floor, Mumbai Samachar Marg, Fort, Mumbai |
Dealing with refractory products, accessories, engineering services etc. | Raigad, MP | 30% | 0.15 |
| 4 | 1) Al Reyami Office Furnishing & General
Trading 2) Excel Middle East PO BOX 14662 PO BOX 31570 Dubai, UAE |
Excel OECE India Private Limited Sir Vithaldas Chambers 16, Mumbai Samachar Marg, Fort, Mumbai |
Establishing a
repacking/reprocessing/ Re-mixing facility for service providers like carpenters, interior decorators and import of world class chemicals, solvents etc. |
Mumbai | 100% | 0.70 |
| 5 | CHUBB Global Financial Services
Corporation 15 Mountain View Road, P.O. Box 1615, Warren, New Jersey 07061-1615 |
HDFC CHUBB general Insurance
Company Ltd Ramon house, HT Parekh Marg 169 Backbay Reclamation, Church Gate, Mumbai |
General Insurance company | Mumbai | 26% | 73.76(including premium) |
| 6 | Pinecliff Limited South Central, 11, Peter Street, Manchester, M2 5 LG, England, UK |
Sona Investment Ltd Indraprakash 13th Floor 21, Barakhamba Road New Delhi – 1 |
Down stream investment Investment in auto components and other sectors | New Delhi | Increase in foreign equity from 30% to 45% | 10.00 |
| 7 | i-Vantage Inc One Broadway, 14th Floor Cambridge MA 02142 USA |
i-Vintage India Pvt Ltd i-Vintage House 59, Sikh Road Jupiter Colony Road No. Secunderabad |
Software development and IT enabled services | Secunderabad | Increase in foreign equity from 75% to 99.975% | 0.0099 |
| 8 | Mr. Alfred Wolfgang Mr. Meraj Hasan 21030 Windemere Lane Boca Raton, FL 33428 USA |
American Bakery concepts India Pvt
Ltd 2, Nityanand Consumer’s Co-op Society Nityanand Nagar No IV Near Post Office Andheri (E), Mumbai |
Development of American food concepts, manufacture of bakery products other than SSI sector | Mumbai | 95% | 0.95 |
| 9 | CLASS KgaA mbH Muensterstr, 33 Harsewinkel Germany |
Escorts Class Ltd C/o. Escrots Ltd 11, Scindia House, Connaught Circus New Delhi |
Manufacture of self propelled combine harvestors & Agriculture harvesting machinery | Not indicated | Increase in foreign equity from 40% to 100% | 4.20 |
| 10 | Sinjin Engineering Co Ltd Ipsilli 29, 3 Oyedong-up Kyungju city Kyungsangbukdo Korea |
Sinjin Engineering Company Ltd C/o. Mr. P. B. Vijayaraghavan, Vihayaraghavan & Assocites Chartered Accountants 51 Gri Road T. Nagar, Chennai |
Manufacture of automotive components and plastic parts | Chennai | 100% | 18.80 |
| 11 | USX Engineers & Consultants
Inc 600 Grant Street, Pittsburg, Pennsylvania PA- 15219-2749, USA |
UEC-SAIL Information Technology
Ltd Piccadily House, Ist Floor, 275-276, Capt. Gaur Marg, Srinivaspuri, New Delhi |
Software development and information technology services | New Delhi | Increase in foreign equity from 60% to 100% | 1.00 |
| 12 | Daejung High Polymer Industry Co.
Ltd # 1696-5, Sini Dong, Daeduk-ku, Taejon, Korea |
100% subsidiary in the name of M/s. Daejung Moparts Private Ltd | Manufacture of sophisticated engineering rubber/polymer components including "O" rings & gaskets for automotive and HI applications | Chennai | 100% | 2.50 |
| 13 | Mr. John Wylie, & Mr. Dan Presley 13555, GE, 36th Street, Suite 260, bellevue, W.A. 98006, USA |
M/s. Jojai Global Ltd LB-3/3, Manu Apartment, Mayur Vihar Phase-I, New Delhi |
Development of Computer Software | Noida, Uttar Pradesh | Increase in foreign equity and reduction in NRI equity | No fresh Inflow is Involved |
| 14 | M/s. Samsung Electronics Co. Ltd., South Korea |
M/s. Samsung Electronics India
Information & Telecommunication Ltd., 47, Ring Road, Lajpat Nagar, New Delhi – 110024 |
Test marketing of specific state of art high tech high value models, import and market entire range of PC components in India | Delhi | Amendment in the existing FC approval | No fresh Inflow is involved. |
| 15 | ISoftel Ltd, 9, Penang Road # 10-08 Park mall, Singapore |
Isoftel Telecommunications Private Limited 313, Prestige Centre Point, Cunningham Road, Bangalore
|
Computer consultancy, computer software | Bangalore | 100% | 0.01 |
| 16 | E credit.com. Inc 20, Carematrix Drive, Dedham, MA 02026 Massachusetts, USA |
Software Systems re-engineering (India) Pvt Ltd (Now, M/s. eCredit India Pvt Ltd) # 13/1, Ist Cross Lavelle Road Bangalore |
Development of software both for domestic and export markets | Bangalore | Transfer of only 1 shares of RS. 100/- | No fresh Inflow is involved |
| 17 | M/s. TOS Corporation, Japan Mr. Kazuya Matsudaria, Japan Mr. Tomoko Ueda, Japan Mr. Gen Mishiba, Japan |
Jin Information Systems 401, Oxford House, 3rd Floor, 15 Rustam Bagh, Main Road, Off. Airport Road, Bangalore |
Development of Computer software | Bangalore, Karnataka | Amendment in the existing approval | No fresh Inflow is involved |
| 18 | M/s. SDI Infotech Inc. 15825 Shady Grove Road Suite 100, Rockville, MD 20850, USA |
M/s. SDI Infotech Pvt Ltd A-36, Gulmohar Park, New Delhi |
Development of computer software | New Delhi | Amendment in the existing approval | No fresh Inflow is involved |
| 19 | M/s. Logic Vision Inc 101, Metro Drive, 3rd Floor, San Jose, CA 95110, USA |
M/s. Purple Vision Technologies (P) Ltd 3430, 10th Main, 3rd Cross, Indiranagar II stage, Bangalore |
Development of computer software | Bangalore, Karnataka | Increase in foreign equity from 42.12% to 100% | 0.029 |
| 20 | AAPC Asia Pte Ltd D,138, Rabinson Road #17.00, Hong Leong Center E, Singapore |
Meris International Hotels Pvt Ltd 462, A.B. Nair Road, Juhu, Mumbai |
Developing tourism related projects | Not applicable | Increase in foreign equity from 74% to 100% | 1.41 |
| 21 | Ms Francoise Le Guillou 1, Avenue Flouquet L’Hay Les Roses Val De Marne, France |
Setting up of a proprietary concern | To operate restaurant business | Delhi | 100% | 0.30 |
| 22 | Voest Alpine Industrieanlagenbau
GmbH(VAI) GESELLSCHAFT M.B.H Turmstrabe 44 Postfach 4, A-4031 LINZ AUSTRIA |
VAI India Private Limited Sector V, Block EP Plot Y 5 Salt Lake Commercial Comp Salt Lake city Kolkata |
Providing engineering and procurement services | Not indicated | Conversion of ECB into equity | 2.00 |
| 23 | M/s. Edgefield Securities Limited 3rd Floor, Les Cascades, Edith Cavell Street, Port Louis, Mauritius |
JK Corp Limited Gulab Bhavan(Rear Wing) 3rd Floor, 6, Bahadur Shah Zafar Marg, New Delhi-2 |
Automotive Tyres, Sugar Hybrid seeds | Kolkata | 13.45% | 10.23 |
| 24 | Igarashi Electric Works (HK)
Limited Block No. "A" 3rd floor Shui ki Ind. Building, 18, Wong Chuk Hang Road, Aberdeen Hong Kong |
CG Igarashi Motors Ltd Plots No. B-12 to B-15, Phase II, MEPZ, Tambaram, Chennai |
Manufacture of Electric Micro Motors | Chennai | Increase in foreign equity from 48.94% to 74.99% | 3.10 |
| 25 | A.R. Wilfley & Sons Inc 7350, East Progress place Suite 200, Greenwood Village, Colarado 80111 |
A.R. Wilfley India Pvt Ltd 201, Timmy Arcade Makwana Road, Marol Naka, Andheri(E) Mumbai |
Importing pumps/parts of the group company and selling the same locally after making value additions | Mumbai | 100% | 0.10 |
| 26 | EPOCA S.A 207, Route d’Arlon, 1150 Luxembourg |
Prime International "Jobitham" 9, VGP Murphy Square 1, Cross Street, Thomas Mount, Chennai |
Tanned leathers and all kinds of finished leathers | Ranipet, Tamil Nadu | 50% | 1.25 |
| 27 | VMH Watch & Jewellery Singapore Ltd 250 North Bridge # 3204 Raffles City Tower Singapore |
100% WOS C/o. Pricewaterhouse Coopers(P) Ltd Sucheta Bhawan, (Gate No. 2, Second Floor) 11-A, Vishnu Digamber Marg, New Delhi |
Imports and wholesale trade of LVMH products i.e, watches and fashion accessories and carrying out marketing, promotion and related support activities | Delhi | 100% | 2.35 |
| 28 | The Medical Export Group of Netherlands Avelinden West 40,4202 MS GORINCHEM The Netherlands |
Svizera Labs Private Ltd Plot No. D16/6, TTC Indl. Area, MIDC Turbhe, Navi Mumbai |
Manufacture and sale of all types of medicines and medical preparations | Navi Mumbai | 25% | 0.025 |
| 29 | Brantford chemicals Inc 34 Spalding Drive, Brantford, Ontario Canada N3T 6B8 |
Srini Pharmaceuticals Ltd Plot No. 10, Type-C Road No 8 Film Nagar, Jubilee Hills Hyderabad |
Manufacture of bulk drugs and drug intermediaries and export | Hyderabad | 50% | 7.5 |
| 30 | CNI Corporation (M) Sdn Bd,
Malaysia Wisma CNI 2 Jalan U1/17, Seksyen U1 Hicom-glenmarie Industrial Park 40000 Shah Alam Selengor DE |
100% subsidiary in the name of M/s. CNI Enterprise(India) Pvt Ltd Bangalore |
Test marketing and contract manufacturing of nutritional and health food etc. | Bangalore | 100% | 2.35 |
| 31 | M/s. Texellent APS (O.C.B.),
Hassel Haven 23, P.O. Box 68, DK-8520, Lystrup, Denmark. |
IFSC Oils & Fats India Pvt.
Ltd., C-112, Jiwan Park, Pankha Road, New Delhi – 110059 |
Engaged in bulk/whole sale trading & exports of oils & fats, food products. | Gurgaon, Haryana | Increase in foreign equity from 51% to 100% | 0.314 |
| 32 | Peirce Leslie & Co Ltd UK |
Peirce Leslie India Ltd 37, P.V. Cherian Crescent, Egmore, Chennai |
Travel & Tourism business | Chennai | Increase in foreign equity from 67% to 100% | 0.87 |
| 33 | Mahle Filtersysteme GmbH Pragstrasse, 54 Postfach D-70336, Stuttgart, Germany |
Kirloskar Mahle Filter Systems
Private Limited 13/A, Karve Road, Kothrud, Pune, Maharashtra |
Development, manufacture and distribution of filters for industrial and automotive applications | Pune | Increase in foreign equity from 50% to 91.70% | 6.65 |
| 34 | Mr. Lee Snag Man & Ms. Sun Kyung Chang South Korea |
West Asia Communications Pvt Ltd B-60, II nd Floor Gulmohar Park New Delhi-49
|
Promote Indian artwork, Literature, Handicrafts commercial films and documentaries in South Korea and other Asian Countries | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved |
| 35 | Vico Technology Inc. USA
|
Adaptive Technology (India) Pvt
Ltd 301-305, Sahajanand Trade Centre, Ashram Road, Ahmedabad |
Development of Computer Software | Gandhinagar, Gujarat | Amendment in the existing approval | No fresh Inflow is Involved |
| 36 | Van Gogh Investments Ltd 4th Floor, Li Wan Po House, 12, Redmy Ollier Street, Mauritius
|
Western Outdoor Interactive Pvt Ltd 4th Floor, ‘G’Block, Dhanraj Mahal, Chhatrapati Shivaji Marg Mumbai |
Software development | Mumbai | 100% | 30.00 |
| 37 | Maxim Integrated Products 120, San Gabriel Drive, Sunnyvale, California USA |
Maxim India Integrated Circuit Design Private
Limited Divyasree Chambers, "A" wing. 2nd Floor, Langford Road, Bangalore |
Design, development of integrated circuits for semi-conductors and export the same | Bangalore | Increase in foreign equity from 88% to 100% | 0.01 |
| 38 | Cadcentre Limited High Cross Madingley Road Cambridge CB 30 HB England |
Cadcentre Limited High Cross Madingley Road Cambridge CB 30 HB England |
Software development and other ancillary works | Bangalore | Amendment in the existing FC approval | No fresh inflow is involved |
| 39 | E Bookers Plc 25, Farringdon Street, London EC4A 4AB UK |
Technovate Data and Services Private Ltd 34/36, Okhla Phase 3 New Delhi |
Data Processing and call centre services | New Delhi | Increase in foreign equity from 99.5% to 100% | 0.01 |
| 40 | a) Mr. Dravid John, Hillside house, Main St,
Gumley, Near Mkt Harbouroug, Leicester LE 16 7 RU, UK b) Mr. Ashok Kwatra 24 Bournside Road Cheltenham, Gluoucestershire, GL 51 3AH, UK c) Mr. Rakesh Khosla 26, The Drive, Lilford, Essex IG1, 3HU, UK |
M/s. VFM Solutions Pvt Ltd C 1A/120B, Janakpuri New Delhi |
Software consultancy | Delhi | 75% | 0.0075 |
| 41 | Metdist Ltd, UK | Metmin Exploration Pvt Ltd 161/162, Mittal Court, ‘A’ Wing, Nariman Point, Mumbai |
Exploration, development, mining and processing of base and precious metals | Mumbai | 100% | 25.00 |
| 42 | Weatherford/Lamb 515 Post Oak Boulevard, Suite 600, Houston, Texas 77027 USA |
100% subsidiary | Provide specialized turnkey services and innovative mechanical solutions, technology and services for drilling, completion and production sectors of oil and gas industry and to undertake the manufacture of oilfield equipment | Vadodara, Gujarat | 100% | 0.50 |
| 43 | X Serve BV1 Corp PO Box 957, Offshore Incorporations Centre Road Town, Tortola British Virgin Islands |
Rahul Gupta, Flat NO. 107 Sunbreeze Apartments Vaishali, Ghaziabad |
Telecommunication` and software development project | Bangalore | 100% | 5.00 |
| 44 | Lotus Growth Capital Ltd Port Louis, Mauritius |
Vulcan Moulds & Dies Pvt Ltd 32nd Mile Stone Chander Nagar Estate Delhi Jaipur Highway Gurgaon, Haryana |
Manufacture of Moulds and Dies etc. | Gurgaon, Haryana | Conversion of loan into equity | 2.69 |
| 45 | Yale Security Products Ltd England |
M/s. Yash Safety Product (India) Ltd Sharp & Tannan Chartered Accountants BOB Building B.S. Marg Mumbai |
Manufacture of Pad locks furniture locks and other locks | Not indicated | Amendment in the existing FC approval | No fresh inflow is involved |
| 46 | M/s. rapid Building System Pvt Ltd Australia 1590, Main North Road Brahma Road, South Australia, 5109 CAN 054779930 |
M/s. Gypcrete Building India (Pvt.) Ltd Majestic Ashirwad 22, Sivasailam Road T. Nagar, Chennai |
Manufacture of Gypcrete plaster compound for the benefit of plastering of traditional type of construction etc. | Tamil nadu | 24% | 1.44 |