A fresh round of FDI approvals came in from the Finance Ministry on Tuesday, upon the recommendation of the Foreign Investment Promotion Board. All of 17 FDI projects were cleared, involving an investment of Rs. 122.3 crore.
The FDI approvals include projects by Starlight Real Estate and Carlson
Hotels. The latter’s Asia Pacific division will set up a joint venture with Elbrus Builders, Unitech and Lavenders for a hotel in Noida at an equity investment of Rs.2.6 crore.
Starlight Real Estate will utilize the start-up capital of Rs.42 crore
to invest in hotels, hospitals and SEZs in India.
Other proposals accorded approval include First Flight Couriers,
Quipo Telecom Infrastructure, Kerstin Rohrig Bendrof, Amalgamated
Plantations, Shantha Biotechnics Delta Energy Systems, Nord Drive Systems,
Value Source Technologies, I-Velozity, Inverness Medical Innovations,
Khanna Speciality Retail and Distributors and DE Shaw Composite Investment.
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