Union Government approves 10 FDI proposals worth Rs.2857.83 crore [ Current Affairs ]
Union Government has approved ten Foreign Direct Investment (FDI) which estimation cost of project was 2857.83 crore rupees and approved by the Foreign Investment Promotion Board (FIPB). Foreign Investment Promotion Board (FIPB) approves the FDI (Foreign Direct Investment) proposals under approval route. However those proposals worth above Rs 1,200 crore are given final approval to the Cabinet Committee on Economic Affairs (CCEA).
- Air Works India (Engineering) Private Limited’s- this company will increase proposal of foreign equity investment at Rs 40 crore.
- Ostro Energy’s – it proposal to invest Rs. 1,400 crore over next four-five years in wind energy assets in India via downstream investment.
- IPCA Laboratories’ – it proposal for FII investment up to 35 per cent i.e. Rs 900 crore.
- Reckitt Benckiser– this is Indian company which proposal to acquire 24.88 per cent stake in Reckitt Benckiser Healthcare India from its foreign investor.
- Syngene International’s – it proposal to inject 380 crore rupees through 10 per cent foreign equity participation into the company.
- Ambuja Cements- it proposal for acquisition of 24 per cent shares in its holding company Holcim (India) for a share swap worth Rs 3,500 crore.
Contributed by: Neelam Kumari
- Published on: March 30, 2015