Government clears 26 FDI proposals worth Rs1,042 crore
26 Mar 2009
The government today approved 26 foreign direct investment proposals involving Rs1,042.91 crore, including NEO Sports Broadcasting's proposal to invest Rs258.53 crore.
The cabinet committee on economic affairs also approved a proposal from NSK Holdings to pump in Rs214.49 crore to make downstream investmen and Samvardhana Motherson Finance's plan to invest Rs208.53 crore to increase equity participation.
John Deere Construction also got approval to invest Rs84 crore in a joint venture to carry out the manufacturing, marketing and distribution activities.
The approvals were granted after the Foreign Investment Promotion Board (FIPB) cleared the proposals at its meeting held on 20 March, the government said in a release.
The proposals relate to the ministries/departments such as commerce, economic affairs, heavy industries, industrial policy and promotion, information and broadcasting, home affairs, petroleum and natural gas, the Railways, civil aviation and telecommunication, the release added.
