|
Finance minister P Chidambaram has approved 25 foreign direct investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 8th February, 2008. The approval amounts to Rs5,584.82 crore. The proposals are related to the ministries / departments, namely, civil aviation, health and family welfare, industrial policy and promotion, information and broadcasting, mines, posts, power, tourism, telecommunications and economic affairs.
The details of the proposals approved are as follows:
| Sl. No. | Name of the applicant | Particulars of the proposal | FDI/NRI inflows (Rs. In crore) | CIVIL AVIATION | 1. | Indian Aero-ventures Pvt. Ltd. Bangalore | Function as an operating cum holding company and make downstream investments in maintenance repair and overhaul of engines, training etc in the activities relating to aviation sector | 131.20 | HEALTH | 2. | M/s. Parkway Group Health Care Pte. Ltd. Singapore | Induction of foreign equity up to 50% in a company engaged in setting up a Greenfield multi-speciality hospital. Proposal attracts Press Note 1 (2005 series) | 155.00 | INFORMATION & BROADCASTING | 3 | M/s. Kid Media India Pvt. Ltd. Mumbai | To undertake additional activity of starting Cartoon channel to be linked from Dubai Media City and down linked in India | 78.00 | POSTS | 4 | M/s. PDP Courier Services Ltd, UK | To set up a WOS to act as a specialist courier for pharmaceutical, biotechnology and medical industries | 0.02 | TOURISM | 5 | M/s. AAPC Hotels Management Pte Ltd. Singapore | Induction of foreign equity by way of investing directly or through its Indian JV companies and be engaged in Construction, developing, owning and managing hotels. Proposal attracts Press Note 1 (2005 series). | 526.00 (Over a period of 5 years) | | 6 | M/s. Skygourmet Catering Pvt. Ltd. Mumbai | Induction of foreign equity by way of acquisition of shares by way of share swap. The company is engaged in airline catering business | No fresh inflow | | 7 | M/s. MARS Restaurants Pvt. Ltd. Mumbai | Induction of foreign equity by way of acquisition of shares by way of share swap. The company is engaged in hotel and tourism activities | No fresh inflow | ECONOMIC AFFAIRS | 8 | M/s. Bhadra Packaids Pvt. Ltd. | Conversion of loan into preference shares. Company is engaged in the manufacture of paper board. | No fresh inflow | | 9 | M/s. Blackstone GPV Capital Partners (Mauritius) V-H Limited, Mauritius | Approval as an operating com holding company (Induction of foreign equity by subscribing to convertible warrants to be applied afresh). | No fresh inflow | | 10 | M/s. FIMAT International Banque S.A. Hong Kong | Induction of foreign equity in a company engaged in stock broking business. Proposal attracts Pres Note 1 (2005 series) | 29.58 (US $ 7.50 million) | | 11 | M/s. Sequoia Capital India Growth Investments I, Mauritius | Conversion of operating company into operating-cum-holding company. Induction of foreign equity in a holding company, which has existing downstream subsidiaries in the financial sector. | 120.00 | | 12 | M/s. Aurionpro Solutions Ltd, Mumbai | Transfer of shares by way of share swap | No fresh inflow | | 13 | M/s. Turner Asia Pacific Ventures Inc. USA | Induction of foreign equity in a company engaged in up-linking of non news & current affairs TV channel | 85.01 (over a period of 2 years) | | 14 | M/s. McGraw Hill Companies Inc. USA | To establish a WOS to undertake the activity of "Rating agency ". Proposal attracts Press Note 1 (2005 series) | 0.01 (Minimum capitalization norms applicable) | INDUSTRIAL POLICY & PROMOTION | 15 | M/s. IVAX Paper Chemicals Pvt. Ltd. | Transfer of shares by way of sale from one OCB to another OCB | No fresh inflow | MINES | 16 | M/s. Vijay Gimpex Mining Pvt. Ltd. | Conversion of operating company into an operating-cum-holding company for making downstream investment in a company engaged in the business of mining, processing, selling, marketing and distribution of feldspars, industrial grade quartz, silica sands and nepheline | 14.00 | POSTS | 17 | M/s. Aramex India Pvt. Ltd. | Conversion of unsecured loan into equity | No fresh inflow | ECONOMIC AFFAIRS | 18 | M/s. J.M. Financial Trustee Co. Ltd. | Induction of foreign equity by way of subscribing to private placement of units. The Indian company is engaged in FDI compliant construction development projects | 1460.00 | | 19 | M/s. Universal Success Enterprises Ltd, Tortola(B.V. Is) | To set up a WOS to hold downstream investments in various Indian companies engaged in development of SEZs | 78.00 | | 20 | M/s. Universal Success Enterprises Ltd, Tortola(B.V.Is) | To set up a WOS to hold downstream investments in various Indian companies engaged in development of infrastructure development projects, tourism, convention centre, Industrial Parks (incl. IT parks) , development of SEZs etc | 78.00 | | 21 | M/s. Universal Success Enterprises Ltd, Tortola(B.V.Is) | To set up a WOS to hold downstream investments in various Indian companies engaged in development of Office parks (including industrial Parks and IT Parks) | 78.00 | | 22 | M/s. Dumeric Holdings Private Limited, Mumbai | Conversion of status of operating company into operating cum holding company to make further downstream investments | 400.00 | TELECOMMUNICATIONS | 23 | M/s. Bycell Telecommunications | To undertake activities of offering GSM based cellular telephone services under UAS License agreement all over India, and increase in paid up capital of the company | 1950.00 (US $ 500 million in the next 3-5 years) | | 24 | M/s. Macquaire Equities Ltd, Australia | Induction of foreign equity upto 50% in an Indian company to make it a Joint venture company. The proposal attracts Press note 1 (2005 series) | 2.00 | POWER | 25 | M/s. KVK Energy & Infrastructure Pvt. Ltd. | Induction of foreign equity in a company by way of subscription to fresh equity shares , fully convertible debentures and/or compulsorily convertible preference shares and buy back of shares | 400.00 | Total Rs. 5584.82 The following three (3 ) proposals have been deferred: | Sl. No | Name of the applicant | Particulars of the proposal | | 1 | M/s. Navteq Corporation, USA | To set up a WOS to undertake the activities of developing and distributing digital maps and related location-based data used in mobile navigation systems and other navigation and GIS applications | | 2 | Mr. Chetan J. Shah | To set up a holding company to undertake downstream investments in companies partnerships engaged in construction of residential and commercial complexes. | | 3 | M/s. India Rizing Fund, Mumbai | Induction of foreign equity by way of subscribing to units in the schemes including its initial Defence SME scheme |
Proposals by SKIL Infrastructure Ltd. and Daimler AG, Germany, have been recommended for the consideration of the Cabinet Committee Economic Afairs.
|
|
