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 Industry & Economy - Foreign Direct Investment


Igarashi among 25 FDI plans cleared

Our Bureau

New Delhi , Sept. 10

THE Government on Friday cleared the Canada-based Royal Indian Raj International Corporation's plan to invest Rs 178 crore in Royal Garden City Enterprise Private Ltd for the development of integrated township in Bangalore.

The Finance Minister, Mr P. Chidambaram, approved a total of 25 proposals involving FDI worth Rs 201.58 crore.

The proposal of Hong Kong-based Igarashi Electric Works (HK) Ltd to invest Rs 8.64 crore in Igarashi Electric India (P) Ltd for 72 per cent foreign equity in the company has also been okayed by the Minister. The company would be engaged in the manufacture and export of carrier assemblies.

The Minister has also given the go ahead to Benetton Group SPA for transfer of shares of DCM Benetton from residents to non-residents involving FDI worth Rs 5.46 crore. The company would be setting up an integrated manufacturing facility for the textile sector in knit fabric area, according to a release.

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