Financial Daily from THE HINDU group of publications
Thursday, May 06, 2004
Financial Daily from THE HINDU group of publications Thursday, May 06, 2004 |
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Foreign Direct Investment Industry & Economy - Foreign Direct Investment Citicorp International among 24 FDI proposals cleared Our Bureau
New Delhi , May 5 THE Government today cleared 24 FDI proposals involving FDI worth Rs 204.01 crore. The proposals approved by the Minister for Finance and Company Affairs, Mr Jaswant Singh, include the US-based Citicorp International Finance Corporation's plan to invest Rs 126.54 crore in the Hyderabad-based IVRCL Infrastructures & Projects Ltd and the Mauritius-based Chrys Capital's plan to undertake infrastructure services and turnkey solutions on water transportation. Other approvals include HFCL Infotel Ltd's plan to bring in FDI worth Rs 48.70 crore from NRIs, FIIs and other investors. The Minister also allowed the Singapore-based Keppel Land Asia Pvt Ltd to acquire 51 per cent stake in the Bangalore-based Puravankara Projects Ltd for the development of an integrated township.
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