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Union Finance Minister, Shri P. Chidambaram has approved 19 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 24th February, 2005. The approvals amount to around Rs. 20.66 crore. These proposals are related to Ministries/Departments; namely, Commerce, Information & Broadcasting, Industrial Policy & Promotion, Health, Non-Conventional Energy Sources, Steel, Textiles & Economic Affairs. The major investment proposals pertain to the activities like wholesale trading, Health and Steel.
The details of the 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)
COMMERCE
1
M/s. AWB Limited & AWB (Australia) Limited
360 La Trobe Street, Melbourne
Victoria 3000, Australia
100% WOS
Wholesale trading of agricultural commodities and the wholesale distribution and sale of the procured wheat, rice, corn, oilseeds and other permitted agri-commodities from the producers and cause the sale of the same to persons buying in bulk in India
New Delhi
To set up a company with 100% foreign equity participation
4.37
2
M/s. Polymers Sealing Solutions Inc.
Headwerksts, 5-7
DE-70565, Stuttgart, Germany
M/s. Busak and shamban seals (India) Pvt. Ltd.
(Formerly M/s. Busak + Shamban Seals & Bearings Private Limited)
Shah Saltan Complex,
Cunningham Road
Bangalore = 560 052
Import of products including industrial, automotive seals, high pressure hydraulic seals and aerospace seals for wholesale trading in India to serve customers in a variety of Industries etc.
Bangalore
Amendment in the activities clause
No inflow
3
M/s. Turner International Inc. USA
M/s. Turner Broadcasting Systems Asia Pacific Inc.
M/s. Turner International India Private Limited
S-3 Level, Block-E,
International Trade Tower,
Nehru Place, New Delhi-19
Production activities, including dubbing in India to increase the quantity and quality of its library of materials
New Delhi
Amendment in the activities clause
No inflow
4
M/s. Sybase Inc.
Onesybase Driver
Dublin, CA 94568, USA
M/s. Sybase software (India) Pvt. Ltd.
201, Enterprise Centre,
2nd floor, Nehru Road
Vile Parle (East),
Mumbai – 99
Import and sell Sybase Inc. Group’s software products in India through sublicensing
Pune, Maharashtra
Amendment in the activities clause
No inflow
5
M/s. The Swatch Group Ltd, Switzerland
M/s. The Swatch Group (India) Pvt. Ltd.
5th Floor, DLF Centre,
Sansad Marg, New Delhi-1
Import and wholesale trading of Jewellery
( ‘Bijoux’-in French)
Not indicated
Amendment in the activities
No inflow
6
M/s. BBM GERB akustik GmbH
Robert-Koch-Str.13
82152 Planegg, Germany
100% WOS
Trading of hi-tech items/ items requiring specialized after sales service for air and noise control devices for power sector, industrial sector & Navy
Not indicated
To set up a wholly owned subsidiary for undertaking trading activities
1.00
7
M/s. Lo Ting Kwuang Company Ltd.
90Moo 10, Buddamonthon 5 Road
Raiking, Sampran Nakorn Pathom
73210, Thailand
100% WOS
Wholesale cash and carry sale for all types of bedding and soft furnishing products
Not mentioned
To set up a wholly owned subsidiary for undertaking trading activities
4.37
INFORMATION & BROADCASTING
8
M/s. B.E. International Mena
Building No. 6,
Office No. 3, Dubai Media City
P.O. Box 502037, Dubai, UAE
M/s. Confluence Communications Ltd
Gitwako House,
42, Birbal Road,
Jangpura Extn.
New Delhi - 14
Advertising industry and is engaged in providing marketing and communications consultancy, creative, media, events and below the line activities
New Delhi
Foreign equity participation to the extent of 26%
0.426
INDUSTRIAL POLICY & PROMOTION
9
M/s. ERRA (U.K) Ltd. UK
(erstwhile OCB)
Mr. Ravindra Singh, NRI,UK and
Mrs. Padmini Singh, UK
M/s. Abacus Metals (Pvt.) Ltd
Nr. Railway Crossing,
Jhotwara, Jaipur-302012
Manufacture of Door handles locks & Misc. hardware items
Rajasthan
Jaipur
Enhancement of foreign equity from 98% to 100%
0.10
10
M/s. Bryden Properties Ltd, UK
M/s. MSS India Pvt. Ltd
H-111, MIDC, Ambad,
Nashik – 422 010,
Maharashtra
Merchant Export Activity
Nashik,
Maharashtra
To create a separate division for Merchant Export activity
No inflow
11
M/s. Tektronix Inc. USA
M/s. Tektronix (India) Pvt. Ltd
Tek Tower, Hayes Road
Bangalore – 560 025
To act as a marketing and sales promotion arm of the Tektronix Group in India
Not known
Amendment in the activities clause for undertaking trading activities
No inflow
12
M/s. Lindauer dornier GmbH
Rickenbacher Strasse 119,
D-88129, Lindau
Germany
M/s. Dornier India Ltd or
M/s. India Dornier Ltd or
Dornier Mumbai Ltd
201-A, Sangeet Plaza,
Marol Maroshi Marg,
Andheri (East), Mumbai-59
Providing installation, commissioning, trading services and after sales services including repairs and maintenance and supply of spare parts required for repairs and maintenance of DORNIER machines (Weaving machines)
Not indicated
To set up a wholly owned subsidiary
1.00
HEALTH
13
M/s. Elekta AB (publi)
P.O. Box 7593, SE-103 93
Stockholm, Sweden
100% WOS
Providing after sales services
New Delhi, Cochin etc.
To set up a wholly owned subsidiary for undertaking trading activities
4.37
NON-CONVENTIONAL ENERGY SOURCES
14
M/s. Prince Stone Investments Ltd
5 Duke of Edinburgh Avenue,
Port Louis, Republic of Mauritius
M/s. Rithwik Energy Systems Ltd
‘LANKO HOUSE’
141, Avenue # 8,
Road No. 2, Banjara Hills
Hyderabad –34, AP
Power generation
Chittor, AP
Transfer of shares from non- resident to non-resident (covered under Press Note-1(2005 Series)
No inflow
STEEL
15
M/s. Vossloh Cogifer SA
54 avenue Victor Hugo
F-92566 Rueil-Malmaison Cedex
France
M/s. Amur Investments S.A.
Makuribai, 10
01470 Amurrio (Alava), Spain
M/s. Beekay Engineering & Castings Ltd
DD-8, Kalkaji,
New Delhi-19
Manufacture of castings steel forgings including truck axles and turnout frogs
Bhilai, Chattisgarh
Acquisition of 100% equity of an Indian company, M/s Beekay Engineering & Castings Ltd.
5.03
TEXTILES
16
M/s. Sara Lee International Corpn.
104E, Springer Building,
3411 Silverside Road,
Willimington, Delaware 19810, USA
100% WOS
Souring of products i.e., men’s underwear, casual wear, women’s undergarments and footwear, add-ons etc. from the local manufacturers and export the same under the various brand names
Karnataka
Downstream investment
No inflow
ECONOMIC AFFAIRS
17
M/s. Media Investments Ltd
3rd Floor, Les Cascades,
Edith Cavell Street, Port Louis,
Mauritius
M/s. Ulka Advertising Pvt. Ltd.
Nirmal, 4th Floor
Nariman Point, Mumbai-21
M/s. FCB-Ulka Advertising Private Limited
Nirmal, 4th Floor
Nariman Point, Mumbai-21
Advertising Agency
Mumbai
Change of status of investor from erstwhile OCB to foreign investor and conversion of non- repatriation equity into repatriation equity
No inflow
18
M/s. Pashupati Securities Mauritius Limited
3rd Floor, Amod Building,
19, Poudriere Street,
Port Louis, Mauritius
M/s. Bank of Punjab Ltd
Hemkunt Chambers
Ground Floor,
89, Nehru Place, New Delhi
Banking activities
N.A.
Conversion of non- repatriation equity into repatriation equity
No inflow
19
M/s. Jashanmal National Co. LLC, Dubai, UAE
M/s. Harmony Distributors Private Limited
101, Pressman House,
70 A, Nehru Road,
Vile Parle (East),
Mumbai - 99
Importing, exporting and trading of perfumes, cosmetic, optical frames writing instruments, electronics, household appliances, food and beverages, luxury goods, cameras, photo accessories, fashion garments, shoes and leather goods
Mumbai
Transfer of shares from NRI to foreign investor, which are earlier held on non- repatriation basis
No inflow
BSC/BY/DT/GN-129/05
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