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Union Finance Minister, Shri P. Chidambaram has approved 32 Foreign Direct Investment proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on November 9, 2004. The approvals amount to Rs. 181.16 crore. These proposals relate to Ministries/Departments; namely, Bio-technology, Chemicals & Petro-chemicals, Commerce, Health, Food Processing Industries, Heavy Industry, Industrial Policy & Promotion, Information Technology, Information & Broadcasting, Telecommunications, Urban Employment & Poverty alleviation and Economic Affairs. The major investment proposals pertain to the sectors like Chemicals & petro-chemicals, Food Processing, Information Technology & Information & Broadcasting.
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)
BIOTECHNOLOGY
1
M/s. MWG Biotech AG
Anzinger Str 7.85560, Ebersberg,
Germany
M/s. MWG Biotech Private Ltd
#17, 5th Cross, Vidyanagar,
Opp. M/s. SKF Bearings,
Hosur Main Road,
Bangalore – 560 100
Reprodusable production of synthetic Necleic Acids using DNA technology
Bangalore
To set up wholly owned subsidiary under 100% EOU scheme
1.00
CHEMICALS & PETROCHEMICALS
2
M/s. IVAX Ltd.
Etrona Building, 174, Granville Road
London NW 2 2 LP, UK
M/s. Ivax Paper Chemicals Private Limited
Kallakal Village,
N..H. 7 at 37.5 KM,
Toopran Mandal, Medak Distt
Andhra Pradesh
Manufacture of paper sizing chemicals
Medak, Andhra Pradesh
Transfer of shares from erstwhile OCB to another erstwhile OCB as foreign investment
No inflow
3
M/s. Sulzer Medica AG, Switzerland
M/s. Zimmer India Limited
(Formerly Centerpulse India Limited)
3rd Floor, Mashkur Building,
1, Krishnama Road, Njngambakkam, Chennai -34
Waiver of manufacturing clause
Chennai
Amendment in the activities clause and fresh issue of shares to the foreign investor
1.00
4
M/s. CVC International Investment Management Group
One Penn’s Way, New Castle
Delaware 19720, USA
M/s. Nectar Lifesciences Ltd
110, Indl. Area, Phase –I
Chandigarh – 160002
Manufacture antibiotics particularly of Cephalosporin range
Patiala, Punjab
Transfer of shares from resident to non- resident and also fresh issue of shares (covered under Press Note-18(1998 Series)
41.88
COMMERCE
5
M/s. Al Zarooni & Al Khwaja Scrap Co. Ltd
P.O. Box 4182, Sharjah, UAE
M/s. Govinda Global Export Pvt. Ltd.
75, Khirki Village, Malviya Nagar
New Delhi-110 017
Import and sale of ferrous and non-ferrous scrap
New Delhi
Foreign equity participation to the extent of 7.12% for undertaking trading activities
1.96
6
M/s. AROS S.R.L
Via 1 Maggio 226/263
37020, Volargne (VR)
Italy
M/s. Tenax India Stone Products Private Limited
Wholesale trading of Glues and filling products, Epoxy Systems products, Surface Processing products, Calibrating, smoothing and polishing products
Not indicated
To set up wholly owned subsidiary for undertaking trading activities
4.57
7
M/s. Beacon Global Services corporation
331, Main Street, Poughkeepsie
New York, USA
M/s. Beacon Global IT Services Pvt. Ltd.
405, Babukhans’ Millennium Center
Somajiguda, Hyderabad – 82
Business of IT enabled services including BPO, legal outsourcing, Medical transcription, and other related activities
Hyderabad
To set up wholly owned subsidiary
0.99
8
M/s. A.F. International Corp.
98, Cutter Mill Road, Suite 246 S,
Great Neck, NY 11021, USA
New JV
Establishing a pulse splitting plant and to undertake grain trading operations
Mundra, Gujarat
To set up joint venture company for undertaking trading activities
4.57
9
M/s. Zuellig Pharma Holdings Ltd, Malaysia and/or nominee including Interpharma Capital Ltd.
Brumby House
1st Floor, Jalan Bahasa, Labuan,
Malaysia
M/s. Zuellig Pharma (India) Pvt. Ltd
Logistics, distribution, invoicing & collection services and wholesale cash & carry trading for all types of pharmaceutical and health care products
Mumbai
Foreign equity participation to the extent of 100% for undertaking trading activities
1.00
10
M/s. Nissan Motor Co. Ltd.
17-1, Ginza 6-chome, Chuo-ku,
Tokyo 104-8023, Japan
New 100% WOS
M/s. Nissan India
(Import of vehicles, (passenger cars and commercial vehicles) in completely built-up (CBU) form and sale thereof through authorized dealers in India, and other related activities
Mumbai
To set up wholly owned subsidiary
4.20
11
M/s. Nobel Biocare Holding AG and/or its subsidiaries, affiliates or nominees
Balsberg, Balz Zimmermann
Str. 7, CH-8152, Glattbrugg,
Seitzerland
100% WOS
Import and sale of premium dental products and esthetic dental solutions of Nobel Biocare
Not indicated
To set up wholly owned subsidiary for undertaking trading activities
0.45
HEALTH
12
M/s. Pet Imaging Partners, LLC
2211, Moor Park Avenue,
Suite 190, San Jose, CA 95128, USA
M/s. Molecular Imaging associates India Private Limited
10-B, Kasturba Gandhi Marg,
New Delhi-110 001
Establishing PET imaging centres having PET scanners, cyclotrons for manufacture of isotopes
New Delhi
Foreign equity participation to the extent of 50% for undertaking trading activities
0.25
FOOD PROCESSING INDUSTRIES
13
M/s. Lotte Co. Ltd
20-1, Nishi-Shinjuku 3-Chome
Shinjuku-ku, Tokyo, Japan
New JV
Manufacture of Chewing Gum, Chocolates, Candy, Biscuits, confectionaries, Ice Creams, etc.
Solan, Himachal Pradesh
To set up joint venture company. The activities of the proposed JV involves manufacture of SSI reserved items and trading
52.5
HEAVY INDUSTRY
14
M/s. Indimet Inc. or its nominees 589 Fifth Avenue,
813, New York, NY 10017, USA
M/s. Rambal Ltd.
No. 20, Corporation Road,
Seevaram, Perungudi,
Chennai-96
Manufacture of auto components
Chennai
Increase in the non- resident equity from 26%to 75%
No inflow
15
M/s. Moriroku Company Ltd
P.O. Box 6, Kasumigaseki Bldg, 6F,
2-5, Kasumigaseki
3-Chome Chiyoda-ku
Tokyo 100, Japan
M/s. Moriroku Ut India Pvt. Ltd.
410, Meghdoot, 94, Nehru Place
New Delhi-110 019
Manufacture of plastic components for use in automobile industry
Noida Phase II, UP
Amendment in the technical collaboration
No inflow
16
M/s. Komet Prazisionwekzeuge Robert Breuning GmbH,
M/s. Dihari GmbH
M/s. Komet Precision Tools India Pvt. Ltd.
121/B, Bommasandra
Industrial Area
Bangalore – 560 099
Extension of test marketing period
Bangalore, Karnataka
Amendment in the activities clause
No inflow
17
M/s. Muller Martini (Singapore) Pte. Ltd.
M/s. Muller Martini (India) Private Limited
RM Towers-I, Plot No. B-2
MMTC/STC Commercial Centre
Geetanjali Enclave, New Delhi
To sell then entire range of Muller Martin machinery, install, service, repair and Train its customers in the operation of machinery
Mumbai
Deletion of divestment condition
No inflow
INFORMATION TECHNOLOGY
18
M/s. Redington (Mauritius) Limited
4th Floor, Ken Lee Building
Edith Cavell Street,
Port Louis, Mauritius
M/s. Redington (India) Limited
SPL Guindy House,
95, Mount Road, Guindy,
Chennai
Distribution and servicing of computer and computer peripherals and export of software
Chennai
Transfer of shares from resident to non- resident and also fresh issue of shares to non- resident
20.57
19
Mr. C. Sivasankaran
Providence Industrial Estate
Mahe, Sey Chelles
M/s. Sterling Infotech Ltd
Sterling Tower
327, Anna Salai
Teynampet, Chennai-6
Software services
Chennai
Transfer of shares from resident to non- resident by way of gift
No inflow
20
Mr. Del Horton, Braian Walden and Eclipse Micro Computers Inc.
M/s. Elitecore Technologies Pvt. Ltd.
904, Silicon Tower,
Off. C.G. Road,
Ahmedabad – 380 006
Software development
Ahmedabad
Transfer of shares from erstwhile OCB to foreign investors
No inflow
21
Thomas Fischer, Samberg,
48629, Metelen, Germany
Ralf Druege
Weitkampweg
87, 48161, Muenster, Germany
M/s. UC Networks (Germany) Private Limited
# 500, Unicorn House
Amarjyothi Layout, Domlur
Bangalore
Software development
Bangalore
Transfer of shares from resident to non- resident
0.0075
22
M/s. Brocade Communications Systems, Inc.
1745, Technology Drive, San Jose
CA 95110, USA
M/s. Brocade Communications Systems Private Limited
Unit No. 706, Carlton Tower
No. 1, Airport Road,
Bangalore- 560 008
Marketing, sales, liaison and servicing of high technology products of Brocade Switzerland to customers and other third parties in India and other related activities
Bangalore
Foreign equity participation to the extent of 100% by way of acquisition of existing shares for undertaking trading activities
0.01
INDUSTRIAL POLICY & PROMOTION
23
M/s. JCB World Brands Ltd, UKRocester
Staffordshire, England ST 14 5JP
M/s. JCB World Brands India Private Limited
23/7, Mathura Road
Ballbgarh – 121 004
Haryana
Procurement, manufacture and supply for domestic and export of construction equipment
Not indicated
Downstream investment
No inflow
24
M/s. Bonfiglioli Riduttori S.P.A. Italy
M/s. Simest, Italy
M/s. Bonfiglioli Transmissions (Pvt.) Ltd
Plot No. AC7-AC11
SIDCO Industrial Estate
Thirumudivakkam, Chennai
Manufacture of helicat in-line gearboxes and the complete range of electric motors for the domestic and export markets. (deletion of divestment condition)
Not indicated
Deletion of divestment condition
No inflow
25
M/s. EPE Italiana S.r.l
Viale delle,
Rimembranze di Greco, 45
Milano, Italy
EPE Process Filters & Accumulators Pvt. Ltd.
F 39-42, Varalaxmi Complex
M.G. Road, Secunderabad, A.P
Manufacture of hydraulic accumulators, process filters and strainers
Kutubullapur, Ranga Reddy Distt, A.P.
Transfer of shares from resident to non- resident
0.29
26
M/s. Advanced Firefighting Technology-Labuan, Malaysia
M/s. Advanced Firefighting Technology Pvt. Ltd.
‘Shahas’Arcade
No. 433, 2nd Floor, Ist c Main
7th Block Extnsion,
Koramangala, Bangalore-95
Manufacture and sell hi-tech fire fighting systems as well as export to Asia Pacific Region, Middle East and African Countries
Bangalore
Amendment in the activities clause
No inflow
INFORMATION & BROADCASTING
27
The Reader’s Digest Associaiton, Inc
Reader’s Digest Road
Pleasantville, NY 10570-7000
USA
100% WOS
Publishing, printing, promoting and selling high quality information and educational books and music and video products
Not indicated
To set up a wholly owned subsidiary
6.86
28
M/s. Worldwide Channels Investments Limited
Woodlands, 80 Wood Lane
London W12 OTT UK
M/s. Worldwide Media Limited
4th Floor, Times of India Building
Dr. D.N. Road, Mumbai-1
Publishing and printing certain scientific, technical and speciality magazines, periodicals and journals the content of which shall not include news and current affairs
Mumbai
Foreign equity participation to the extent of 74%
39.00
TELECOMMUNICATIONS
29
M/s. Aegis Media Asia Pacific Management Pte. Ltd.
152, Beach Road,
36th Floor Gateway East,
Singapore 189721
M/s. Percept India Pvt. Ltd.
P2, Level 1,
Radhuvanshi Estate,
11/12, Senapati Bapat Marg,
Mumbai – 400 013
Acting as media, advertising and communications consultants, advisers, media planning, buying and sourcing agent in relation to outdoor and out-of-home communication etc.
Mumbai
Transfer of shares from resident to non- resident and fresh issue of shares to non- resident
0.05
URBAN DEVELOPMENT & POVERTY ALLEVIATION
30
Va Tech Wabag GmbH, Vienna
M/s. VA Tech Wabag Ltd
11, Murray’s Gate Road
Alwarpet, Chennai-18
Design, Engineering, procurement, manufacture, supply, construction, testing, commissioning, operation & maintenance of cooling systems and water and waste water treatment systems, including ancillary equipments & components thereof
Chennai, Tamil Nadu
Amendment in the activities clause
No inflow
ECONOMIC AFFAIRS
31
M/s. Dar Al Handasah EC
Darpen House
Giadel Place,
Timworth Street, England, UK
M/s. Dar Consultants India Pvt. Ltd.
50 Beach Road
Kalakhetra Colony,
Besant Nagar, Chennai-90
Consultancy services in the field of advance design engineering
Chennai
Transfer of shares from NRI to foreign investor
No inflow
32
Mr.Abhay B. Joshi
Mr. Sanjay Jeurikar and
Mr. Samir Bodas
M/s. Aztec Software and Technology Services Limited
23, 3rd "A" Cross, 18th Main
6th Block, Koramangala,
Bangalore – 560 095
Providing information Technology and software services and solutions
Bangalore
Transfer of shares from NRI to non- resident by way of swap
No inflow
Total
181.16
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