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Rio Tinto among new FDI proposals

NEW DELHI: Singapore-based aluminium major Rio Tinto has received the Government’s nod to set up a manufacturing facility in India with a foreign direct investment (FDI) amounting to Rs. 148.57 crore.

In all, nine FDI proposals worth Rs. 294.46 crore were approved by Finance Minister P. Chidambaram on the recommendations of the Foreign Investment Promotion Board, according to a Finance Ministry statement here on Thursday. Some of the other major approvals include JP Morgan’s Rs. 100-crore programme for investment in the hotel and hospitality sector.

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