Financial Daily from THE HINDU group of publications
Friday, Mar 22, 2002
Financial Daily from THE HINDU group of publications Friday, Mar 22, 2002 |
|
|
|
|
|
Home Page
-
Foreign Direct Investment Industry & Economy - Foreign Direct Investment Toyota, Suzuki among 57 FDI plans cleared Our Bureau
NEW DELHI, March 21 TOYOTA Motor Corporation's proposal to increase its stake in Toyota Kirloskar Motor Pvt Ltd from the present 88.88 per cent to 99 per cent with fresh foreign direct investment worth Rs 106.5 crore and Suzuki Motor Corporation's proposal to set up a wholly-owned subsidiary for the manufacture of two and three-wheelers are among the 57 foreign direct investment proposals involving FDI worth Rs 1,113 crore cleared by the Government on Thursday. The Minister for Commerce and Industry, Mr Murasoli Maran, cleared the proposals following recommendations from the Foreign Investment Promotion Board (FIPB). The proposal of AVN Winfotech to bring in Rs 356 crore for 100 per cent equity participation from three Taiwan-based companies for setting up a colour display tube manufacturing facility with an estimated project cost of Rs 876 crore has been cleared. French multinational Hoechst Schering Agroevo's has also received the go-ahead from the Government to increase its stake in Bilag Industries Pvt Ltd, engaged in research, development and manufacture of agro-chemicals and environment health products, from the present 51 per cent to 74 per cent involving fresh inflow of FDI worth Rs 235 crore. The Government also cleared two proposals from the Shell group of companies. Shell Internet Ventures BV's proposal to start Internet-based learning programme for school students through Shell India e-Services Pvt Ltd involving FDI inflow of Rs 84.6 crore and Butagaz International BV's proposal to acquire the LPG business of Bharat Shell involving FDI inflow of Rs 14.4 crore have been given the go ahead. The Government also cleared DHL Worldwide Express (India) Pvt Ltd's proposal involving fresh investments worth Rs 91 crore. ABB group's proposal to increase foreign holding in Universal-ABB Power Cables from present 74 per cent to 90.6 per cent with fresh FDI worth Rs 63.50 crore also gets the green signal.
Send this article to Friends by E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|