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Union Finance Minister, Shri P.Chidambaram has approved 24 Foreign Direct Investment proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on February 10, 2005. The approvals amount to around Rs. 158.82 crore. These proposals are related to Ministries/Departments; namely, Chemicals & Petrochemicals, Commerce, Health, Heavy Industry, Information & Broadcasting, Industrial Policy & Promotion, Information Technology, Mines, Telecommunications, Textiles, Tourism & Economic Affairs. The major investment proposals pertain to the sectors like Chemicals & Petro-chemicals, Health, Information & Broadcasting, and Telecommunications.
The details of proposals cleared are as follows:
S.No.
Name & Address of the existing/proposed foreign company
Name & Address of the Indian company, if already incorporated
Activity
Location
Particulars of the proposal
FDI/NRI
Inflows
(Rs. In crore)
CHEMICALS & PETROCHEMICALS
1
M/s. Colgate-Palmolive (Asia) Pte. Ltd.
24, Rafles Place, #15-00 Clifford Centre
Singapore 048621
M/s. Colgate-Palmolive (India) Limited
Colgate Research Centre,
Main Street, Hiranandani Gardens, Powai,
Mumbai – 400 076
Manufacturing and/or marketing of cosmetics, toilet soaps, toothpaste, shaving products
Mumbai, Maharashtra
Transfer of shares from non- resident to non- resident constituting 20% of the paid up capital through a stock exchange at the prevailing market price
27.20
COMMERCE
2
M/s. Henning Clausen aps
HC etiketter A/S-Hvidkaervej
2 a – DK 5250 Odense SV, Denmark
100% WOS
Procure the labels and accessories from local manufacturers and sell them to manufacturers of garments
Not indicated
To set up wholly owned subsidiary with 100% foreign equity participation
0.06
3
M/s. Hyundae Non-Ferrous Metal Co. Ltd. Korea
M/s. Koin Metal Pvt. Ltd.
A/103, Ist Floor, National Avenue,
Akurli Road, Kandivali (East)
Mumbai-401101
Importing and exporting, stocking and selling raw materials and to act as an agent/distributors for the manufacture of related items abroad and also for Indian company
Maharashtra
Foreign equity participation to the extant of 80% and undertaking the activities of trading
2.25
4
M/s. Aber Diamond Corporation
P.O. Box 4569, Station A, Toronto,
Ontario, Canada M5W 4T9
M/s. Aber India Private Limited (Proposed)
Cash and Carry wholesale trading of rough diamonds to Indian manufacturers
Mumbai
To set up company with 100% foreign equity participation for undertaking trading activities
0.10
5
M/s. AT-Home GmbH,
Branterei 1.26419 Schortens, Germany
M/s. AT-Home Textilien India Pvt. Limited
C/o. German Centre,
117, G.N. Chetty Road,
T. Nagar, Chennai – 17
Export of home furnishing products like tablecloth, aprons etc.
Chennai,Tamil Nadu
To set up a wholly owned subsidiary for undertaking export activities
0.218
HEALTH
6
M/s. Bausch & Lomb South Asia Inc. USA or any of its associates/nominees /subsidiaries
M/s. Bausch & Lomb Eyecare (I) Pvt. Ltd.
7th Floor, Enkay Tower,
Udyog Vihar – V,
Gurgaon – 122 016, Haryana
Setting up of community cataract surgical center and bulk import of all consumables, import related capital goods and export/ex-bonded warehouse sales
Bhiwadi, Rajasthan
To set up a company with 100% foreign equity participation
50.00
HEAVY INDUSTRY
7
M/s. Honda Motor Co., Ltd
1-1, 2 Chome Minami-aoyama,
Minato-ku, Tokyo
107-8556, Japan
M/s. Honda Siel Cars India Ltd
Plot No. A-1, Sector 40/41,
Surajpur-Kasna Road,
Greater Noida Industrial Dev. Area, Distt. Gautam Budh Nagar
U.P.
Renewal of technical collaboration agreement
Gautam-budh-nagar UP
Amendment in the technology agreement
No inflow
8
M/s. T.L. Jones Limited
46b Halwyn Drive, P.O. Box 1151
Christchurch, New Zealand
M/s. T.L. Jones India Pvt. Ltd.
501, Delta Technology Street,
Hiranandani Gardens
Powai, Mumbai-76
Wholesale trading of elevator passenger protection systems
Mumbai
To set up a wholly owned subsidiary
0.05
INFORMATION & BROADCASTING
9
International Data Group Inc.
1 Exeter Plaza,
Boston, MA 02116, USA
100% WOS
Printing and publishing of scientific and technical magazines
Bangalore
To set up a wholly owned subsidiary
13.13
10
M/s. Americorp Ventures Limited
3, Cerne House, 3rd Floor,
Lechausscee, Port Louis,
Mauritius
M/s. Asianet Communications Limited,
1C, Apex Plaza,
3, Nungambakka High Road
Chennai – 600 034
Procuring, leasing, establishing and operating all types of telecommunication and space linkages systems and to carry on the business of producing audio, video and film productions, commercial and advertising documents etc. and their television and satellite distribution
Chennai
Transfer of shares from resident to non- resident
6.66
INDUSTRIAL POLICY & PROMOTION
11
M/s. Mather & Platt II Limited
4th Floor, Les Cascades Building,
Edith Cavell Street,
Port Louis, Mauritius
M/s. Mather & Platt (India) Ltd.
Mumbai-Pune Road
Chinchwad, Pune – 411 019
Supply of food processing and textile furnishing machinery
Pune
Transfer of share from resident to non- resident
0.037
12
M/s. New Holland Mauritius Pvt. Ltd. Mauritius
M/s. New Holland Tractors (India) Private Limited
50, Okhla Industrial Estate III
New Delhi-110 020
Manufacture of agricultural tractors, tractors, combine harvesters, forage harvesters, mowers, balers, loader backhoes, skid steer loaders and earthmoving machinery
Grater Noida, Gautam Budh Nagar, UP
Amendment in the activities clause
No inflow
13
M/s. Bihope Project Consulting Company Limited
Rm 2408-10, Nanfung Tower,
173, Des Voeux Road C, Hong Kong
Hong Kong
M/s. United Metaltek Pvt. Ltd
Flat No. 102,
Sree Krishna Residency,
Banjara Hills, Hyderabad – 34
Cash and carry wholesale trading and bulk imports with ex-port/ex-bonded warehouse seles of aluminium composite panels and other aluminium, mild steel, copper and other metals fro small scale users
HyderabadAndhra Pradesh
Foreign equity participation to the extant of 75% and also undertaking trading activities
0.375
14
M/s. Maurwa Co. Ltd. Japan alongwith Maruwa (Malaysia) Sdn. Bhd a Maruwa Group company
3-83, Minamihonjigahara-cho, Owariasahi-city, Aichi-pref,
488-0044, Japan
100% WOS
Marketing and sales promotion activities
Chennai
To set up a wholly owned subsidiary with 100% foreign equity participation
4.37
INFORMATION TECHNOLOGY
15
M/s. Pacific Ventures, Mauritius
Vinod Kottapalli,
330 The Village, # 215,
Redondo Beach, CA 90277, USA
M/s. iSpace Software Technologies Limited
103 A, Road No. 1
Jubilee Hills, Hyderabad -33
IT Services
Hyderabad
Transfer of shares from NRI to foreign investor
No inflow
16
M/s. itCube Inc.
1209, Orange Street,
Willington 1980, New Castle, USA
M/s. itcube Solutions Pvt. Ltd.
Unit No. 30, 2nd Floor,
Electronica Co.
Operative Estate,
Pune Satara Road,
Pune – 411 009
IT enabled services
Pune
Transfer of shares from resident to erstwhile OCB (now as foreign investor)
0.01
MINES
17
M/s. Seashore Mineral Resources Ltd
Suite 2000,
1055 West Hastings St.
Vancouver, B.C. Canda V6E 2E9
M/s. East West Mineral Sands Private Limited
H.No. 293/82/F-II/15-A,
Plot No. 15, Road No. 1
Film Nagar, Hyderabd - 33
Mining and separation of beach sand minerals alongwith value addition thereof
Hyderabad
Foreign equity participation to the extent of 74%
0.028
TELECOMMUNICATIONS
18
M/s. Fargo Telecom Asia Limited
36/F, Yat Chau International Plaza,
No. 118, Connaught Road West,
Hong Kong
100% WOS
Sale of high technology components and products to institutional buyers
New Delhi
To set up wholly owned subsidiary
0.875
19
M/s. Meridian Group Services Limited
Akara Building,
24 De Castro Street,
wickhams Cay 1, Road Town, Tortola,
British Virgin Islands
M/s. Meridian Mobile Private Ltd
H-12, Green Park Extension,
2nd Floor
New Delhi – 16
Wholesale trading in mobile handsets and accessories
New Delhi
Foreign equity participation to the extent of 100% for undertaking trading activities
9.01
TEXTILES
20
M/s. Arnold Mattschull, Germany
M/s. ABMindustriebetelligungsgesellschaftmbh
Max Planck Strasse – 5,
61381 Firendrichdorf, Germany
M/s. First Garment Manufacturing Co. (I) Pvt. Ltd.
No. 4/135,
Aruppukottai Main Road,
Valayankulam,
Madurai – 625 022
Manufacture of readymade garments
Madurai
Transfer of shares from NRI to erstwhile OCB (Now as foreign investor)
No inflow
TOURISM
21
M/s. D.S.O Ltd, P.O. Box 134,
Town Hills, Trinity Square,
St. Peter Port, Guernsey,
Channel Island
M/s. Yans Enterprises H.K. Ltd
P.O. Box 1130, 12, Redy Ollier Street,
Port Louis, Mauritius
M/s. Saraf Industries Ltd,
3rd floor, Les Cascades, Edith Cavell St.
Port Louis, Mauritius
`M/s. Asian Hotels Limited
Bhakaji Gama Place,
M.G. Marg, New Delhi – 66
Owning and operating 5 star deluxe hotels
New Delhi
Change of status of erstwhile OCB to foreign investor
No inflow
ECONOMIC AFFAIRS
22
ADR/GDR Offerings
M/s. ICICI Bank Limited
ICICI Bank Towers,
Bandra-Kurla Complex,
Mumbai-51
Banking operations
Mumbai
Issue of sponsored offering of American Depository Shares against existing shares
44.45
23
M/s. Flemingo International Ltd
P.O Box 61239, Jebel ali Free Zone
United Arab Emirates
M/s. Flemingo (DFS) Pvt. Ltd.
TC-34/1433,
Opp. Thiruvananthapuram International Airport,
Air Port Road,
Thiruvananthapuram – 695 008
Setting up of Duty Free Shops at the Airports
Jaipur, Lucknow, Amritsar,Guwahati Thiruvan--antha-
puram,
Chennai,Visakhap-atnam, Haldia and Goa
Issue of shares against pre-incorporation expenses
No inflow
24
M/s. Garban Holdings (Nederlands) BV
M/s. ICAP India Private Limited
(Formerly Garban Intercapital IL Pvt. Ltd. )
202 Dalamal Tower, Nariman Point,
Mumbai – 21
Securities and fixed income broking
Mumbai
Merger of companies as per Hon’ble High Court of Mumbai’s order
No inflow
BSC/BY/GN-42/05
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