Industry & Economy
-
Foreign Direct Investment
Hyundai Mobis among 19 FDI proposals cleared
Our Bureau
New Delhi
,
June 14
THE Finance Minister, Mr P. Chidambaram, has approved 19 foreign direct investment proposals recommended by the Foreign Investment Promotion Board in its meeting on May 27.
An official release said the approvals amounted to Rs 444.8 crore and pertained to sectors such as health, heavy industry, information and broadcasting, urban development and insurance.
The major proposals include an investment of about Rs 220 crore by NRIs/PIOs in the venture capital fund of New-Delhi based Solitaire Capital India. An investment inflow of Rs 82.5 crore in Shriram Life Insurance Company Ltd also received the nod. The foreign company in this proposal is Sanlam Life Insurance Ltd of South Africa.
The proposal of New Vernon Bharat Ltd (based in Mauritius) for investment of Rs 30 crore in Jagran TV Private Ltd, Kanpur, was cleared.
The Finance Minister cleared South Korean auto-parts maker Hyundai Mobis' plan for an investment inflow of Rs 59.7 crore.
An investment inflow of Rs 27 crore relating to Chennai-based Biogenomics Ltd was also approved, to make drugs using recombinant DNA technology.
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
