The Hindu Business Line : Govt okays 100 pc FDI in Gujarat Pipavav Port

STRATEGIC investors and FIIs have been permitted by the Government to increase their holding in Gujarat Pipavav Ports Ltd from 49 per cent to 100 per cent involving foreign direct investments (FDI) worth Rs 456 crore.

This was among the 28 FDI proposals worth Rs 529 crore cleared by the Union Minister for Finance and Company Affairs, Mr Jaswant Singh, today.

The proposal from US-based OIKOCRDIC Ecumenical Development Cooperative Society's proposal for 75 per cent equity participation in Maanaveeya Holdings & Investments Pvt Ltd for undertaking NBFC activities too was cleared. The UAE-based Abdulla Hamid Ali Mazroei's proposal for 40 per cent foreign equity participation and another 28.33 per cent NRI equity participation in UAE Exchange and Financial Services involving FDI worth Rs 17.08 crore was cleared

The US-based INTEL Pacific Inc plan to increase its holding in CCELICIM Systems and Services Ltd from the existing 27.63 per cent to 56.83 per cent involving FDI worth Rs 8.83 crore has been okayed.

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