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Foreign investment proposals worth Rs.892 crore cleared
The government Friday cleared 16 foreign direct investment (FDI) proposals valued at Rs.891.71 crore, the bulk of them for by a power project, the government said Friday.
The proposals were cleared on the recommendations of the Foreign Investment Promotion Board (FIPB), which met here July 10, a finance ministry statement said.
Delhi-based power company Teesta Urja has been allowed FDI investments worth Rs.547.2 crore through regularisation of allotment of equity shares on a partly-paid basis.
KVK Energy and Infrastructure of Hyderabad has been allowed to raise additional FDI worth Rs.116 crore from an existing investor.
Mumbai-based IL&FS Trust Co has been allowed to raise Rs.108 crore so it can continue to hold stake in the Multi Commodity Exchange of India.
Thirteen proposals were deferred, which included/vt proposals from Jindal Saw, Vijay Mallya-promoted United Breweries, Unitech Wireless and Dish TV.
Last updated on Jul 17th, 2009 at 19:13 pm IST--IANS
Possibly related news:
- Foreign investment inflow touched $4.4 bn in April-May (July 29)
- Chemicals sector attracts highest foreign investment (July 12)
- Exide plans Rs.100 crore investment in this fiscal (July 17)
- Ministers to study administrative reforms proposals (July 6)
- Allow private investment in nuclear power: Economic Survey (July 2)
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