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FDI proposals worth Rs.1,289 cr cleared

Special Correspondent

NEW DELHI: The Centre on Wednesday cleared 14 foreign direct investment (FDI) proposals worth Rs.1,289 crore, while it deferred 27 proposals.

“Based on the recommendations of FIPB...Government has approved 14 Proposals of FDI amounting to Rs.1,289.855 crore,” an official statement said.

The 14 proposals cleared by the Foreign Investment Promotion Board (FIPB) include that of Kolkata-based Dhunseri Investments project worth Rs.715 crore where the company will issue and allot equity shares to the non-resident shareholders consequent upon demerger.

Similarly, a proposal of Mauritius-based Ghir Investments worth Rs.530 was cleared.

The other proposals which were cleared include that of Pipavav Shipyard, Gujarat, to undertake additional activity relating to defence sector. Kyuden International Corporation, Japan, also got the clearance to set up a joint venture investment company. The proposals deferred include that of Essar Capital Holdings and Forbo Holding AG, Lindenstrasse (Switzerland).

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