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Union Finance Minister, Shri P. Chidambaram has approved 25 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 17th March, 2005. The approvals amount to around Rs. 394.84 crore. These proposals are related to Ministries/Departments; namely, Agriculture & Cooperation, Chemicals & petro-chemicals, Commerce, Coal, Industrial Policy & Promotion, Information Technology, Mines, Power, Telecommunications and Economic Affairs. The major investment proposals pertain to the sectors like Coal, Information Technology, Mines and Telecommunications.
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)
AGRICULTURE & COOPERATION
1
Mr. Dahyabhai Somabhai Patel,
3060, Land Wehr Road, North Brook, ILL.60062, USA
Mr. Gandaji Nathuji Chavda,
24416, 88th Street, Salem,
wisconsion 53168, USA
Mr. Narendra Singh Chavda,
41, Jayvir Nagar Society,
Near Bus Stand,
Patan – 384 265, Gujarat
Jojoba plantation and Oil extraction from Jojoba Carnal.
Patan, Gujarat
To set up joint venture company
1.80
CHEMICALS & PETROCHEMICALS
2
M/s. Colorama Pharmaceuticals Ltd
23, Wadsworth Road
Coolorama House, Green Ford
UB 6 7JD, UK
M/s. Osaka Pharmaceuticals Pvt. Ltd.
Old National Highway No. 8
Sankarda – 391 350
Distt. Vadodara, Gujarat
Manufacture of pharmaceutical formulations viz., tablets
Capsules and liquid orals
VadodaraGujarat
Foreign equity participation to the extent of 50% and issue of preference shares to the foreign investor
4.00
COMMERCE
3
M/s. Flemingo International BVI
P.O. Box 30499, Dubai
United Arab Emirates
M/s. Flemingo Internatinal Ltd
Sell the imported goods in the open market to bonders/persons entitled to buy duty free goods such as hotels and diplomats etc. and re-export the same
Jaipur, Lucknow, Amritsar, Guwahati, Thiruva-
nantha-puram, Chennai, Visakha- patnam and Goa
Amendment in the activities clause
No inflow
4
M/s. Saint Gobain S.A.
Les Miroirs,
18, Oavenue d Alsace-92096
La Defense Cedex, France
M/s. Saint-Gobain weber (India) Ltd
5th Floor, Sentinel
Hiranandani Gardens,
Powai, Mumbai 76
Cash & Carry wholesale trading of building materials
Mumbai
To undertake additional activities of cash and carry wholesale trading
No inflow
5
M/s. Burkert Contromatic Ltd
Brimscombe Fort, Business Park
Brimscombe Stroud,
Gloucestershire, GL 52QF
England, UK
M/s. Indo-German Chamber of Commerce Deutsch – Indische Handelskammer
“German Centre”
New No. 32 (Old No. 117)
G.N. Chetty Road
T. Nagar, Chennai -17
Import of components required for assembling Burkert’s fluid control systems etc.
Not mentioned
Foreign equity participation to the extent of 100%
0.72
6
M/s. Honda Trading Corporation
Daiichi Tekko Building 2F
1-8-2 Marunouchi, Chiyoda-ku
Tokyo 100 0005, Japan
100% WOS
Import and undertake cash and carry wholesale trading of diverse products, including steel, aluminium, dies, machinery, plastics and automotive components and parts in India
Delhi
To set up a wholly owned subsidiary for undertaking trading activities
4.16
7
M/s. AEC International Pty Ltd
75 Hartley Rd,
Smeaton Grange NSW 2567
Sydney, Australia
M/s. AEC Offshore Trading Pvt. Ltd
# 172/1, Unit No. 3
Srinivasa Industrial Estate
Bannerghatta Road
Bilekahalli, Bangalore –76
Manufacturing, processing and trading of different products relating to the craft industry
Karnataka
Foreign equity participation to the extent of 76.70%
0.03
8
M/s. Hansa Metallwerke AG
Sigmaringer Strabe 107
D-70567, Stuttgart, Germany
M/s. Hansa India Ltd
Importing, marketing, distribution, and sale of products such as kitchen and bathroom fixtures manufactured by Hansa Group
Not mentioned
Foreign equity participation to the extent of 51%
8.80
9
M/s. Goltens Co. Ltd
C/o. Harfield Bennett Trust co. Ltd
CTV House, La Pouquelaye
St. Helier Jersey
Channel Islands
100% WOS
Repairs & reconditioning services to shipping industry and any other manufacturing, oil & gas Power industries etc.
Not indicated
To set up wholly owned subsidiary
0.43
10
M/s. NEFAB AB (Publi)
Ostra storgatan 20
P.O. Box 2184
SE 550 02
Jonkoping, Sweden
100% WOS
Provide complete packaging solutions to the Indian customers, to undertake cash and carry wholesale trading of packaging, returnable packaging and other packaging materials
Mumbai
To set up wholly owned subsidiary
0.22
11
M/s. Signity AG
Bachtobelstrasse 3
CH-8810 Horgen, Switzerland
100% WOS
Import of genuine gemstones, cubic zirconia, synthetic stones, natural stones, alpinites and components etc.
Mumbai
To set up a wholly owned subsidiary
0.50
12
Riccardo Fama & Siette Laurence
72 Rue General de Gaulla 6020
Dampremy/Charleroi, Belgium
M/s. Cosasia Intertrade Pvt. Ltd
No. 3/172, East Coast Road
Vettuvankeni, Chennai
Export of garments
Chennai
Increase in foreign equity from 51% to 94.59%
0.088
13
M/s. Rubberflex SDN BHD
21st Floor, U.B.N. Tower
Box NO. 48,
No. 10 Jalan P Ramlee,
50250, Kuala Lumpur, Malaysia
100% WOS
Import rubber threads for garment elastic &
To sell and distribute rubber thread for garment elastic to local industries in India
Mumbai
To set up wholly owned subsidiary
4.40
14
M/s. Merck Holding GmbH
Frankfurter Str
250 Darmstadt, Germany
M/s. Merck Specialities Pvt. Ltd
“A” Block,
Dr. Annie Besant Road,
Worli, Mumbai
Business of high speciality pharmaceutical products
Mumbai
To set up wholly owned subsidiary
0.50
COAL
15
M/s. Metcoke Singapore Pte Ltd
8, Temasek Boulevard, 22-03
Suntec Towers –3,
Singapore 038988, Singapore
100% WOS
Manufacture of metallurgical coke based on non-recovery technology
Tuticorin, Tamilnadu
To set up a wholly owned subsidiary
70.00
INDUSTRIAL POLICY & PROMOTION
16
M/s. Hydril Company LP, USA
M/s. Hydril Jindal International Pvt. Ltd
Pipe Nagar, village Sukeli
N.H. 17, B.K.G. Road
Taluka –Roha,
Distt. Raigard – 402 126
Maharashtra
Manufacture premium threaded connections like coupled tubing joints coupled casing joints and accessory ends used in oil and gas sector
Raigard, Maharashtra
Amendment in the technical collaboration
No inflow
INFORMATION TECHNOLOGY
17
M/s. Agile Software Corporation, USA
M/s. OneRev Information Technologies (India) Ltd
89/4, 6th Main, 16th Cross
Malleswaram,
Bangalore – 560 055
Software Development
Bangalore
Merger of companies as per the order of Hon’ble High Court of Karnataka.
No inflow
18
M/s. Wyse Technology Inc.
3471 N, First Street, San Jose
CA 95134-1801, USA
M/s. Wyse Technology Software Development India Pvt. Ltd.
Bangalore
Importing, marketing and distributing Wyse Technology Inc.’s and its affiliates hi-technology products in India, after sales services and support of Wyse products and services
Bangalore
Foreign equity participation to the extent of 100% for undertaking trading activities
66.00
MINES
19
M/s. Encotra AG, Switzerland
M/s. VISA International Ltd
Visa House,
8/10, Alipore Road
Kolkata – 700 027
Downstream investment in mining sector including coal mining
Orissa
Change in the status of M/s Visa International Ltd. from holding company to holding -cum-operating company and increase in foreign equity from 21% to 74%
173.76
POWER
20
M/s. Wartsila Corporation, Finland
M/s. Wartsila India Ltd
76, Free Press House
Nariman Point
Mumbai 21
Electricity generation
Tamilnadu
Downstream investment
No inflow
TELECOMMUNICATIONS
21
Mr. Satish Raheja
CP 3153, 1211, Geneva 3
Switzerland
M/s. Asianet Satellite Communications Ltd.
3rd Floor, Karimpanal Arcade
East Fort,
Thiruvananthapuram
Kerala
Cable Services, and ISP
Kerala
Issue of redeemable non-cumulative preference shares
30.00
ECONOMIC AFFAIRS
22
Ms. Nuzhat Maksud Kazi
C/o. Maksund Umar Kazi
13-03, Horizen Towers
15-Leoni Hills Road
Singapore – 239 194
Mr. Muksud Umar Kazi
304-A, Chakka Cresent Tower ‘A’
Sector – 17, Vashi,
New Mumbai – 705
Not applicable
Not applicble
Post facto approval for acquisition of shares of M/s Reliance Industries Ltd. from resident shareholder by way of gift
No inflow
23
M/s. Uno Investments
3rd Floor, Les Cascades
Edith Cavell Street, Port Louis
Mauritius
M/s. Shriram Overseas Finance Ltd
(formerly known as Pioneer Overseas Finance Ltd)
“Mookambika Complex”
3rd Floor, 4, Lady Desika Rd,
Mylapore, Chennai –4
NBFC activities
Chennai
Foreign equity participation to the extent of 20% in M/s Shriram Overseas Finance Ltd through open offer
4.24
24
M/s. Uno Investments
3rd Floor, Les Cascades
Edith Cavell Street, Port Louis
Mauritius
M/s. Shriram Transport Finance Company Limited
Overseas Finance Ltd)
“Mookambika Complex”
3rd Floor, 4, Lady Desika Rd,
Mylapore, Chennai –4
NBFC activities
Chennai
Foreign equity participation to the extent of 20% in M/s Shriram Transport Finance Ltd. through open offer
13.08
25
M/s. Uno Investments
3rd Floor, Les Cascades
Edith Cavell Street, Port Louis
Mauritius
M/s. Shriram Investments Ltd
Overseas Finance Ltd)
“Mookambika Complex”
3rd Floor, 4, Lady Desika Rd,
Mylapore, Chennai –4
NBFC activities
Chennai
Foreign equity participation to the extent of 20% in M/s Shriram Investments Ltd. through open offer
12.12
BSC/GN-172/05
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