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FDI proposals

NEW DELHI, JUNE 7. The Union Finance Minister, P. Chidambaram, today cleared two FDI proposals worth Rs. 550 crores, which would allow the Mauritius-based FE Holding to set up an integrated township and an industrial park in Mohali, near Chandigarh. The company will hold 100 per cent foreign stake in both projects.

While it would invest Rs. 500 crore in the integrated township project, the foreign equity holding in the industrial park project would be Rs. 50 crores, an official release said.

The two cases were recommended by the Foreign Investment Promotion Board. — PTI

PTI

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