Financial Daily from THE HINDU group of publications
Saturday, Dec 27, 2003
Financial Daily from THE HINDU group of publications Saturday, Dec 27, 2003 |
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Foreign Direct Investment Industry & Economy - Foreign Direct Investment Gabriel Trade's Rs 900-cr FDI plan approved Our Bureau
New Delhi , Dec. 26 THE proposal from the UK-based Gabriel Trade and Investment Company Ltd to set up a methanol manufacturing facility in Gujarat involving foreign direct investment (FDI) worth Rs 900 crore has been given the go-ahead by the Minister for Finance and Company Affairs. However, the proposal has been referred to the Cabinet Committee on Economic Affairs (CCEA) for a final clearance. A total of 30 FDI proposals was cleared by the Minister involving FDI worth Rs 1,100.6 crore. The proposal of UK-based Henderson Asia Pacific Equity Partners to acquire a 19.23 per cent stake in HT Media Private Ltd involving FDI worth Rs 124 crore has also been cleared. The proposal of TCL Overseas Holdings to bring in Rs 50 crore FDI in its Indian subsidiary to undertake manufacturing, distribution, assembling, marketing and technology development and other related activities for white and brown goods too has been okayed. The Minister has also cleared Sthal Netherlands' proposal to set up a 100 per cent subsidiary involving FDI worth Rs 9 crore.
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