GOVT OKAYS 24 FDI
PROPOSALS WORTH RS 204 CR
The government on approved 24 foreign
direct investment proposals worth Rs 204 crore, including
Citicorp and Chrys Capital's plan to invest Rs 126.54 crore
in Hyderabad-based IVRCL Infrastructure and Projects Ltd.
The FDI proposals, cleared by ex Finance
Minister Jaswant Singh on the recommendations of Foreign Investment
Promotion Board, mostly pertain to infrastructure, telecom,
urban township, wholesale trading and IT software.
Citicorp and Chrys Capital's plan to invest Rs 126.54 crore
in IVRCL infrastructure project will be in line with Sebi
norms.
Government has also allowed Singapore-based
Keppel Land Asia to set up a joint venture with Bangalore-based
Puravankara Projects.
Keppel will invest Rs 24 crore for picking up 51 per cent
stake in the new venture for developing integrated township.
HFCL Infotel has obtained FIPB nod for transfer of shares
worth Rs 48.70 crore to NRIs and foreign investors.
