Mumbai: The government has approved 22 foreign direct investment (FDI) proposals involving investment of around Rs511.5 crore, including that of global private equity players Goldman Sachs and Macquarie and World Bank''''s private arm IFC.

The government approved proposals by Goldman Sachs and Macquarie to invest a total of Rs156 crore ($39 million) for a 40 per cent stake in PTC India Financial Services.

The government also cleared International Finance Corp''''s plan to invest Rs152 crore for an 18 per cent stake in financial services firm Angel Infin Pvt Ltd.

Sical Logistics has been permitted to sell a 26 per cent holding in its unlisted subsidiary, Sical Infra Assets Ltd, to foreign investors for Rs107 crore.

Japanese firm Metal One Corp, a subsidiary of Mitsubishi Corp, has been allowed to set up a wholly owned trading subsidiary in India with an initial investment of Rs2.9 crore.

US-based Croupier Prive Private Equity Fund has been permitted to invest Rs16 crore for a five per cent stake in Central Depository Services Ltd.

However, the finance ministry rejected a proposal of Flemingo to open duty-free shops outside airports and in hotels. It also put on hold a proposal by leading retailer Dolce & Gabbana to set up a joint venture with 51 per cent stake to undertake single brand retailing of fashion and lifestyle products.

FIPB has also deferred a decision on the proposal of Russia''''s Sistema Joint Stock Financial Corp to increase its stake from 10 per cent to 74 per cent in a telecom firm.

The proposals were cleared by finance minister P Chidambaram on the recommendations of the Foreign Investment Promotion Board (FIPB), an official statement said.