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Union Finance Minister, Shri P.Chidambaram has approved 30 Foreign Direct Investment proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on January 13, 2005. The approvals amount to around Rs. 305.29 crore. These proposals relate to Ministries/Departments; namely, Agriculture, Chemicals & Petrochemicals, Commerce, Food & Public Distribution, Information & Broadcasting, Industrial Policy & Promotion, Information Technology, Mines, Power, Small Scale Industry, Telecommunications, Textiles & Economic Affairs. The major investment proposals pertain to the sectors like Chemicals & Petro-chemicals, Industry, Power and NBFC activities.
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)
AGRICULTURE
1
M/s. Delta & Pine Land Company, USA
M/s. Delta & Pine Land Company
Plant breeding, testing, production, marketing and sale of agricultural seeds of both varietal and hybrid types and including both genetically modified and non-genetically modified seeds etc.
New Delhi
Amendment in the activities clause
No inflow
CHEMICALS & PETROCHEMICALS
2
M/s. Visa Comtrade A.G., Switzerland
M/s. Visa Industries Ltd
VISA House
8/10, Alipore Road,
Kolkata – 700 027
Chrome beneficiation and chrome grinding, setting up of an integrated steel and stainless steel manufacturing plant, coke oven plant, submerged arc furnace, hot rolling mills and captive power plant for generating power from waste etc.
Kolkata
Increase in foreign equity from 47.41% to 74% by way of fresh issue of shares
45.31
COMMERCE
3
M/s. Sucre et Denrees SA
20-22, Rue De La Ville I’Eveque 75008
Paris, France
M/s. Sucden India Pvt. Ltd.
34-A, Nariman Bhawan,
Nariman Point,
Mumbai- 400 021
Bulk import of sugar with ex-port and ex-warehouse sales, cash and carry wholesale trading etc.
Not indicated
Amendment in the activities clause for undertaking trading activities and also additional investment
0.15
4
Dr. Ka.i Pradip Chaudhuri &
Ms. Sumanta Chaudhuri
6800 Indiana Avenue, Suite 130,
Riverside, California 92506, USA
M/s. Arati Plantatioins & Agro Products Private Ltd
Room No. 758, 7th Floor,
Marshall House,
25, Strand Road, Kolkata-1
Tea Plantations
Assam
Transfer of shares from resident to NRI. The company is engaged in the activities of tea plantation
0.40
5
M/s. Gemfields Limited,
Palm Grove House, P.O. Box 438
Rd. Town, Tortola
British Virgin Islands
100% WOS
Cutting and polishing gemstones and trading activity for gemstone exports
Not indicated
To set up wholly owned subsidiary for undertaking trading activities
0.10
6
M/s. Alain Pensec
2, Gilstead Road, # 03-03 Gilstead View
Singapore
M/s. Urschel India Trading Pvt. Ltd
1105, Embassy Centre,
Nariman Point, Mumbai-21
Trading in size reduction machinery for food industry
Mumbai
To set up a joint venture company with 50% foreign equity participation for undertaking trading activities
0.005
7
Mr. Otto O Mueller
Chemin des Cibles 11,CH 1789
Lugnome, Switzerland
Mr. Joerg W. Bachmann,
Kreuzackerstrasse 39, CH 5012,
Schonenward, Switzerland
M/s. Tissu Rothrist Trading Pvt. Ltd.
Trading and manufacture of helmets and other safety gears
Goa
Transfer of shares from resident to non- resident.
0.005
FOOD & PUBLIC DISTRIBUTION
8
Mr. Harish Tikamdas Rupani &
Mrs. Laju Harish Rupani
608, Bank of Baroda Building
Bur Dubai UAE – 6596
M/s. Mohini Grains Private Ltd
Mumbai
Trading, import, wholesale, procurement and export of foodstuff items and grains
Mumbai
To set up company for undertaking trading activities
0.01
INFORMATION & BROADCASTING
9
M/s. Production Facilities Pte. Ltd
83, Meyer Road, # 01-02
Meyer Park, Singapore – 437 910
M/s. Inhouse Production Pvt. Ltd.
B-50, Deluxe Building
Off Link Road, Andheri (West)
Mumbai-400 058
TV software, film financing, production, distribution, exhibition, marketing and associated activities related to film industry
Mumbai
Ex-post facto approval and regularization of issue of shares to foreign investor
4.00
10
M/s. Haymarekt Magazines Ltd, UK
M/s. Haymarket SAC Publishing
(India) Private Ltd
111, Peninsula Centre,
Dr. S.S. Rao Road, Lallbaug,
Parel, Mumbai-12
Amendment in the activity clause
Mumbai
Amendment in the activities clause
No inflow
INDUSTRIAL POLICY & PROMOTION
11
M/s. Kaizen Institute, Ltd
Poststrabbe 15
6301, Zug, Switzerland
M/s. Kaizen Institute (India) Pvt. Ltd
Plot No. 5, 1st Floor, Sri Durga Apartments
1st Cross Street, Vijaya Nagar
Velachery, Chenai-42
Management consultancy services
Chennai
Increase in the payment of license fee to the foreign investor
No inflow
12
M/s. International Distillers & Vintners Ltd. No. 1, York Park, Regents’s Park
London, NWL 4 PU
M/s. International Distillers India Pvt. Ltd.
Block 2D, No. 71
Phoenix Mills Compound,
Senapati Bapat Marg,
Lower Parel, Mumbai-13
Waiver of divestment condition
Not indicated
Waiver of divestment condition and also transfer of shares from resident to non- resident
10.22
13
M/s. Silicon Graphics World Trade Corporation (Through M/s. Silicon Graphics World Trade BV, Netherlands)
M/s. Silicon Graphics Systems (India) Pvt. Ltd.
5th Floor, Signature Tower B
South City, Gurgaon –122001
Haryana
Cash and carry wholesale trading and making institutional sales in computing systems and related hardware/software
Not indicated
Amendment in the activities clause for undertaking trading activities
No inflow
14
M/s. Kansai Paints Co. Ltd. Japan
M/s. Goodlass Nerolac Paints Ltd
Nerolac House, P.O. Box 16322
Ganapatrao Kadam Marg,
Lower Parel, Mumbai-13
Manufacture of paints, enamels & varnishes
Mumbai
Acquisition of shares by the foreign investor through secondary market transaction
104.27
15
M/s. Mather & Platt II Limited
Mauritius
M/s. Mather & Platt Pumps Ltd.
Mumbai-Pune Road
Chinchwad, Pune-19
Manufacture and supply of centrifugal pumps
Pune, Maharashtra
Acquisition of shares by the foreign investor from the resident shareholder
0.74
16
M/s. Toyo Denso Co. Ltd
2-10-4, Shinbashi Minato-ku
Tokyo 105-0004, Japan
M/s. Toyo Denso India Pvt. Ltd.
Manufacture of component parts, replacement parts, spare parts, accessories, tools for motors, vehicles, motorcycles, generators etc.
Rewari, Haryana
To set up a wholly owned subsidiary (covered under Press Note-18(1998 Series)
28.00
INFORMATION TECHNOLOGY
17
M/s. E-Tech Resources Ltd
Road Town, Pasea Estate, Tortola
British Virgin Islands
M/s. E-Tech India Pvt. Ltd
M/s. First Mobile India Pvt. Ltd.
305, Business Point 349,
Western Highway,
Next to Sai Service,
Andheri(E), Mumbai
Wholesale distribution and after sales service of computer electronic products-Audio and Video Equipments in India
Thane, Maharashtra
Amendment in the activities clause for undertaking trading activities
No inflow
18
M/s. SAP AG.,
16, Neurottstrasse
D-69190, Walldrof, Germany
State of the art software products and additional releases/advancements of existing software products
Bangalore
Change of status from erstwhile OCB to foreign company and to construct a facility/ campus for its business use
No inflow
19
M/s. Unitech Systems Inc
1240, “E” Diehl Road
Naperville 605653 IL, USA
M/s. Unitech Systems (India) Private Limited
“CASA FINA”
5, Primrose Road,
Bangalore – 25
Development towards software in the area Infn. Integrity and promotion awareness of the concept of information integrity among the academic and industrial circles and the public at large
Bangalore
Transfer of shares from NRI to erstwhile OCB
No inflow
MINES
20
M/s. Twinstar Holdings Ltd
10, Frere Felox de Valois Street,
Port Louis, Mauritius
M/s. Sterlite Industries (India) Ltd
Vedanta, 75 Nehru Road,
Vile Parle (East), Mumbai-99
M/s. The Madras Aluminium Company Ltd
Dhanraj Mahal, 5th Floor,
C.S.M. Road, Apollo Bunder,
Mumbai-39
Engaged in the mfr. Of primary Metal, extrusions, alumina and others and manufacture of copper jelly filled telephone cables, optical fires etc.
Acquisition of 45,00,000 equity shares by way of reverse book building mechanism as prescribed in the delisting guidelines issue by SEBI
4.50
POWER
21
M/s. BG energy Holdings Limited,
100 Thames Valley Park Drive
Reading, Berkshire RG 1PT
UK
100% WOS
Power Trading
Not indicated
To set up wholly owned subsidiary
21.79
22
M/s. Customs Magnetics Inc.
801, W. Main Street,
North Manchester, IN 46962, USA
M/s. Silchar Electronics Limited
BIL Road, BIL 391 410
Distt. Vadodara, India
Manufacturing of power transformers and distribution & power transformers
VadodaraGujarat
Transfer of shares from resident to erstwhile OCB
0.33
SMALL SCALE INDUSTRY
23
M/s. Risicare Pte. Ltd
1 Kim Seng Promenade,
Great World City #05-01
Singapore 237994
100% WOS
Manufacturing, processing, packaging, distribution, marketing, buying and selling of edible oils and edible fats, speciality fats, grains, other food products and related commodities, selling and marketing of non-edible by-products from the manufacturing process.
New Delhi
To set up a joint venture company instead of WoS
No inflow
TELECOMMUNICATIONS
24
Mr. Gautam Sabharwal,
72, William Court 6, Hall Road,
London NW 89PB, UK
Mrs. Ewa Sicka, 1, Brynsdale Road,
London, NW4, ITB
Mrs. Dipika Khaitan,9, Acquirrels Close,
London N 12 8AY, United Kingdom
M/s. Tanla Solutions Limited
Plot No. 11,
Type A, Filmnagar,
Jubilee Hills, Hyderabad -33
Software development services in telecommunications
Hyderabad,Andhra Pradesh
Issue of shares to foreign /NRIs under share swap agreement
No inflow
TEXTILES
25
Mr. Suresh chauhan
10th Floor, 356, FU Hsing
North Road
Taipei, Taiwan
M/s. Sealking India
M-7, Aradhana Bhawan
Azadpur Commercial Complex
Azadpur, Delhi-33
Self adhesive tapes
Delhi
To set up partnership firm with NRI investment
4.00
ECONOMIC AFFAIRS
26
M/s. south Asia Regional Fund (SARF), Mauritius ( a subsidiary of Commonwealth Development Corporation (CDC)
M/s. Sterling commerce International Inc.
M/s. SIFY Limited
IInd Floor, Tidel Park,
4, Canal Bank Road, Taramani,
Chennai
Setting up public data network for providing electronic commerce, electronic data interchange and internet services
Chennai
Issue of ADRs with an Overseas Depository against shares held by shareholders
1.53
27
M/s. Telebrands Advertising Corpn.
Virginia, USA
M/s. Telebrands (I) Pvt. Ltd.
403-A, 2nd Floor,
Devidayal Compound,
L.B.S. Marg, Bhandup(W),
Mumbai-78
Ambervision(sunglasses) Night Vision(Goggles) Tooth Whitening Gel etc.
Mumbai
Transfer of shares from resident to non- resident by way of gift
No inflow
28
M/s. Polartech Additives Holding AG
Bollwerk 15, 3011 Bern
Switzerland
M/s. Polartech India Pvt. Ltd
Plot N. 142/B, IDA Mallapur,
Hyderabad - 76
Manufacturing and dealing with specialty chemicals and formulations for industrial, commercial and agricultural applications
Hyderabad
Acquisition of shares of Indian company by the foreign investor (covered under Press Note-18(1998 Series)
0.2999
29
M/s. BHW Holding AG, Germany
M/s. BHW Birla Home Finance Ltd
202, II & III Floor
Okhla Industrial Estate,
Phase-III, New Delhi-20
Extending home loans to resident and non-resident Indians
Delhi
Amendment in the activities clause
No inflow
30
Farallon Capital Management, LLC
One Maritime Plaza,
Suite 1325
San Francisco, California 94111
M/s. Indiabulls Credit Services Limited
IA, Hamilton House, Ist Floor,
Connaught Place
New Delhi-1
NBFC Activities
New Delhi
Fresh issue of shares to non-resident(covered under Press Note-18(1998 Series)
79.63
BY/GN-24/05
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