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Govt. Approves 13 FDI Proposals
Friday, October 05, 2007

A fresh round of approvals came in from the Finance Ministry, upon the recommendations of the Foreign Investment Promotion Board, for 13 proposals for foreign direct investment (FDI) in India, adding up to Rs.393.36 crore.

The approvals will see Maruti Udyog in a joint venture with the Japanese Futaba Industrial Company, with an equity investment of upto 51%, or Rs.45.90 crore to manufacture exhaust system components.

Bloomberg, the international newswire had sought to downlink its TV programmes and step up its paid-up capital – its proposal for Rs. 85 lakh has been approved as well.

Aster Infrastructure of Secunderabad has been accorded approval for foreign equity of Rs.232.58 crore for its telecom services.

The foreign stake in this company has risen to 72.5% with this investment. KVK Energy of Hyderabad has been allowed to bring in Rs.97.06 crore, or 70% foreign equity for investment into its operating companies.

Ford Automotive Finance Company’s proposal has been rejected.

Related Readings

»23 FDI proposals meet Indian Government Approval
»17 FDI Proposals Meet FIPB Approval
» Fresh Round of FDI Approvals

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