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 Industry & Economy - Foreign Direct Investment


Matrix Labs among 28 FDI proposals cleared

Our Bureau

New Delhi , July 22

MATRIX Laboratories' proposal to bring in further foreign direct investment (FDI) worth Rs 5.14 crore from Mauritius-based India Newbridge Partners FDI Ltd was among the FDI proposals cleared by the Government today.

A total of 28 FDI proposals involving investment worth Rs 20.29 crore were cleared by the Finance Minister, Mr P. Chidambaram, here today.

The majority of the proposals are in the areas of chemicals and petrochemicals, rendering catering and allied services and software development. The other proposals cleared by the Minister include France-based Sermo Montaigu's plan to infuse FDI to the tune of Rs 6.5 crore into Sermr-Pm India Ltd, engaged in design and manufacture of precision plastic injection and compression mode.

The Minister has also approved Real Image Media Technologies' plan to bring in fresh FDI worth Rs 2.73 crore from Street Edge Mauritius for setting up a recording studio.

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