Govt clears 14 FDI proposals worth over Rs 1,300 crore
12 Jan 2013 7:16 AM IST
The government on Friday said it has approved 14 FDI proposals worth about Rs 1,311 crore including that of Hindustan Port Ltd.
'Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 21 December, government has approved 14 proposals of foreign direct investment amounting to Rs 1,310.60 crore approximately,' the Finance Ministry said in a statement. The proposal of Mumbai-based Hindustan Port Ltd to induct foreign funds worth Rs 440 crore for investment in downstream companies was among those cleared by FIPB. The Foreign Investment Promotion Board, headed by Economic Affairs Secretary Arvind Mayaram, has also allowed pharma firm Aanhaneya Lifecare to raise funds worth Rs 405 crore through issue of foreign currency convertible bonds.
Besides, the board has allowed Bangalore-based Syngene International to induct foreign equity of
Rs 125 crore.
US-based Gavis Pharma LLC can also invest Rs 73.75 crore in an Indian company engaged in the business of manufacture of injectable products. FIPB has deferred six and rejected three proposals.
'Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on 21 December, government has approved 14 proposals of foreign direct investment amounting to Rs 1,310.60 crore approximately,' the Finance Ministry said in a statement. The proposal of Mumbai-based Hindustan Port Ltd to induct foreign funds worth Rs 440 crore for investment in downstream companies was among those cleared by FIPB. The Foreign Investment Promotion Board, headed by Economic Affairs Secretary Arvind Mayaram, has also allowed pharma firm Aanhaneya Lifecare to raise funds worth Rs 405 crore through issue of foreign currency convertible bonds.
Besides, the board has allowed Bangalore-based Syngene International to induct foreign equity of
Rs 125 crore.
US-based Gavis Pharma LLC can also invest Rs 73.75 crore in an Indian company engaged in the business of manufacture of injectable products. FIPB has deferred six and rejected three proposals.
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